I like doing business there.

My excess cash flow per year is around $300k in cash, meaning theoretically I could do 6 deals, but in order to make that salary (HHI $722k) I need someone with the time to do the repairs and manage the tenants.

I can see an explicit exception in CA Tax Code § 17561 that says you can not use the qualifications in Section 469(c)(7) (Real estate professional) to render that income as non-passive, but I see no callout for 1.469-1T and, as such - as a non-CPA - I do not (yet) see a reason why we cannot follow the same rules for CA that we do for our federal taxes; e.g., if the business is not a "rental" business per tax code, we count that income as non-passive and offset other income (W2, etc) similarly.Does anybody else have some guidance (or opinions) on this matter?

Do you think I should give up all my profit to just get the first deal done? 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

.: The hate for wholesalers on BiggerPockets is insane when there are still genuine, good wholesalers out there who aren’t selling a dream.There are good wholesalers out there, but unfortunately, there are also a lot who have no idea what they're doing and some that are just scammers. 

Where do you invest?

Assuming these are for short-term loans, such as for flips, @Keith Groshans, you could do what we do and let the borrower keep the money and pay everything when they sell the property.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Do we 1st do tax on the LLC and whatever we split 50 & 50 then each claims on their taxes ?