IMHO one should carry real estate in an entity for the tax benefits AND legal protection but if shaky about the legal protection the merit of the tax benefits alone should be enough to persuade anyone considering to use an entity to hold real estate or not.

Rod also has extensive personal experience with and discusses the relative merits of single family vs. multi-family investments.

Also the 2% rule is a guideline, you have to analyze each deal on its own merits. 

Preface: PLEASE don't turn this into a thread debating the merits, legality, or ethics of wholesaling.

Maybe setting up an LLC and using it years down the road, then possibly, maybe it could qualify for loans based on its own merit, and then I could qualify for personal loans where they focus more on my own merit (even though they would be aware of the LLC, too).But until then, there is the Global Debt from the LLC perspective taking my personal finances into account for getting loans for the LLC, and as the person signing the LLC's loans, the LLC is very much visible on my personal finances.

Given that you said it was for a friend to live in himself and not an investment, I'd error on the high side, and I think $200/SF might be light, especially if the neighborhood merits $2-$2.5MM homes.I did a similar budget last year for NEW construction (but down to the studs wouldn't have saved me much $) in my town and it was going to be a $2.0-$2.5MM exit.  

In a syndication, you can evaluate the merits and underwriting of each opportunity presented to you, whereas in a fund context, there is no choice. 

I think there’s some merit to this method but it’s not as good as a referral from another investor IMO.Online sites like Angie’s list can be hit or miss in my experience.

On refinances you need actual tenants to use rental income and or tax returns.Your wait is generally about 12 months but could be sooner in extenuating circumstance that merit it.

And/or is there any merit/logic/stupidity to structuring the offer that has seller crediting back a Cap-X fund of $100K or so?