I would love to hear your discussion on this thread please.

If you choose to set it up in Illinois (IL) and then file as a foreign entity in MI, you will end up paying two state filing fees, which unnecessarily increases your costs.

Because a large percentage of the charges are base fees that do not change based on use!

I work in WA, not IL.Sounds like similar facts - you need to be licensed if you are going to manage other folks' property.Here, you need to hang your license under a managing broker until you can get your managing brokers license, as brokers can't touch money and do a few other things legally.If it's like WA, you will have to hang your license under a managing broker at a brokerage, and coordinate deposits, contracts, fees with them.If that is the case, ask some brokerages that will allow you to hang your license under them for minimal fees in order to be compliant.

Keeping up a property incurs a lot more maintenance fees, etc. 

Would it be legal to wholesale a family members home (est. 1M), and receive a fee for the wholesale services? 

I'll let you know either way and we can discuss!

How I benefit from the partnership doesn't really matter for this discussion.

Citizens Bank has an online only for 4.5% no fees. 

Depending on your long term goals I wholesale and use the assignments fees to buy free and clear properties and I use creative marketing to buy and keep in my portfolio.