A 50/50 split, while not uncommon in the world of flipping, is very sponsor friendly, relative to the typical syndication which will typically start at 80/20 or 70/30 splits, with a vast majority of proceeds going to the LPs, along with a preferred return that gives them 100% of the cash flow up to a certain annualized return metric.  

exactly I fund wholesalers in SC all the time.. its a boon to my business  :)  these laws are sweeping the nation.. its consumer protection U just have to many deals go wonky and complaints are filed so regulators are finally taking notice to this acitivty..

Horror story #2: while selling off one of the Class C Indianapolis properties, buyer asked me to pay replace the sewer line before closing... absolutely not...here's a partial credit (check to written out to contractor from closing proceeds so buyers don't pocket the money) 

While I was scared, I still proceeded since I had just learned the general process from my course.

I found the setup and management process on Booking.com to be horrendous, not intuitive, time-consuming, fees are expensive, I had to manually process credit cards, and only got a few bookings for my trouble.  

I just think it is important for consumers to realize that they cannot use Handymen for everything (of course depending on their state as you say).And yes, better to jump in and get going.

Any update on this question, I'm also in the same boat and would love to know how to proceed.

They may easily discover the clubs, investors/end buyers themselves and just sell their property to a highest bidder without sharing proceeds with a wholesaler.

I worked with developers and contractors for many years and the best way I saw this type of situation proceed was for the individual to partner with a mass homebuilder - depends on how big the property is - and also partner with a GC to install the infrastructure to the specs of the homebuilder.

I often look at them and think if they can do it, probably I can have some level of success too.Other key info I may have left out above:1) I am not in the US, and have no plans to visit or move there2) I am not a US citizen, but possibly have a credit history there (maybe none) since I attended university there many many years ago3) I am completely new to real estate - I've been reading crazily and consuming lots of content.