I only do wraps in non-judicial foreclosure states.

I know that all who invested gets paid if the deal does well, but it got complicated because I don't have money to contribute.

This whole deal is really complicated. 

To complicate things further it’s hard to put a price tag on many of these repairs, whenever there is long term water intrusion you run the risk of “mission creep” i.e. replacing some rotten siding leads to replacing some rotten sheathing leads to realizing the studs are also rotten leads to realizing the foundation looks crappy too now you’re rebuilding everything.

. :) Usually, the software does this pretty well with all these complications, and when you have to lay it out like this, it gets very technical.

You are making something simple complicated.

It got really complicated. the other $1000 in damages was from a busted faucet on my washer connection, totally separate and totally sucks!

It's not really that complicated to buy out of state.

However, this option comes with a number of potential complications – both financial and emotional – that need to be considered.Financially, you’ll need to inform your mortgage company when your home stops being your residence.

It's a ton of marketing, being on the phone, driving, doing walkthroughs, and negotiating if you want to find deals that investors will actually buy.If having a second full time job doesn't scare you, (and this is only my opinion - therefore not legal advice) When you are starting out wholesaling, I think creating an LLC would be a big expense and complication that you don't need.