Well at least I am new to doing it.

About 5 years ago, I decided to get my RE license as I kinda predicted legislation being put in place against wholesalers (which slowly seems to be happening) and my thought was if I was licensed, I would be able to continue marketing to home owners (not to assign, but only to purchase for my own flips/rentals) So, I'm seeking guidance on a business concept that encompasses my knowledge, experience and licenses.

The question of "can you" related to all of the LLC and structure questions appear to have been well answered already.

If I put the money in the stock market, and got a 10% return, well, after tax on the gains, that return is more like 7.5%.

For example, my office is located in NY, but I take on projects and am licensed in CT as well.

How would you guys go about selecting a mentor?

Personally, I have found that no wholesaler ever presented remotely accurate numbers (rehab estimates were well below my actual costs and ARVs VERY aggressive).  

While I'm still in the early stages, I'm committed to expanding my knowledge and understanding of the many opportunities that real estate investing has to offer.

I have selectively invested in apartment communities in Cincinnati with good value add and cash flow. 

@Emmanuel OlaIf you can get a longer term conventional loan I would choose that over a hard money loan every time - this is of course assuming the hard money loan has higher interest rate as well as a shorter maturity date