You'll then be obligated to keep receipts to prove whether that sale led to a profit or not and potentially pay taxes on the proceeds.

Study the market.

and subs should have no problem proving they have insurance and will add you to their policy this is standard Operating procedures. 

If they prove they paid a SD by canceled check etc  you  would still have to credit them for it even if you did not receive it at closing. 

There is no 'school' to go to....best thing to do is just start studying.....I would get your RE license just to know the language and law.

straightforward to get my license as in studying for a month or two then taking a huge exam?

If your goal is to be a real estate investor, then I highly recommend you learn/study/live an actual RE investing strategy like buy and hold (which can be straight landlording, house hacking, BRRRR) and can be done in single family or multi family or you can flip or develop properties (but that too is a job and income stops when you stop flipping).Not to discourage you from your wholesaling desires, but think long and hard as to how and why you came to such a decision and know it is NOT RE investing.

They do fund 100% of the rehab, but they won't allow you to draw until you can prove the work is done, so if you need to pay for materials for your contractor to get started, that will be out of your pocket.

Were all trying to understand how a fair partnership works but it's proving to be more challenging than I thought to come up with a strategy that works.

Needless to say, I'm beyond excited to learn more, figure out the process, gain confidence, find a core 4, learn more, study more, and I feel that the wheels are finally on track and I have direction and purpose.