The simplest of arrangements probably won't save you any taxes as they will pass through to your personal return. 

@Larisa Dalekorey - I see a lot of opinions on this thread which can be great but I think you left out a key ingredient to the equation.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

I don't recall where I got this from, but this should help you...Motivated Seller QuestionnaireA motivated seller questionnaire is the simplest and most useful tool for screening motivated seller leads.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

@John Moran, Brandon Tuner's The Four Square Method vid is the simplest way for a teenager to digest real estate investing.

Taking action is the key ingredient.

At the simplest level you go to the county recorder and search for deeds, then either deeds of trust or mortgages depending on your state.

Seems like the simplest most straight forward path from point A to point B.

It's also for this reason that all states are moving closer and closer to banning wholesaling without a realty license, and honestly they are right because it's the simplest means to impress the most persons in the biz to do it correctly and legally.