As Jay mentioned they must be NMLS licensed if owner occupant of in several states even commercial needs licensing.The NMLS is like the database, each state has a division of banking that oversees lending requirements then you also on the federal level have CFPB as well as consumer protection laws.I want to add that I believe yesterday the CFPB is undergoing changes, but if it goes away that does not mean that many of the laws in place especially consumer protection laws would go away. 

When starting out in wholesaling real estate, it's important to use agreements that protect all parties involved while ensuring a smooth transaction process.

I will provide more information later.The two main setups are:1- Holding company in Wyoming if I want Charging Order Protections advantages, then a Series LLC in Kansas holding my Kansas RE and another Series LLC in Missouri holding my RE in Missouri.2- Holding company in Wyoming if I want Charging Order Protections advantages, then form as many LLCs as I want inside of it, one per rental or one LLC per 2 o 3 rentals.Fees are pretty reasonable and the same as they disclosed before the appointment, on their website or youtube videos.

Protect from what?

It won’t be privacy, it won’t be asset protection.

Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

., property management companies aren’t legally required to carry general liability insurance, but it’s highly recommended for protection against bodily injury or property damage claims.

Typically people only get insurance on things that they own, or liability insurance for their own protection. 

An LLC is useful for two things: anonymity and legal protection.

I purchased a 3 family in Newark NJ in March of this year, and am curious about looking into this form of insurance as a way to further protect myself.