@Brian DavisAs a general rule you would want an LLC in the state where the property is located as it will need situs in that state to be able to act in court,As some state have very low outside liability protection on their LLC it is recommended to have these LLC owned by a holding LLC in a good asset protection state.

I'm looking for someone who preferably has experience in the field, invests themselves and knows a lot about insurance, LLC's and asset protection.

I would rather have my license and protect my ability to continue to broker real estate transactions than bank on wholesaling remaining completely legal for the years to come.Hope this helps!

I hired an attorney to ensure we had someone in our corner to protect our best interests.

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In order to keep the liability protection on the homes owned through the LLC, I need to maintain "separate identities" between myself and my LLC. 

For instance, the Ohio Environmental Protection Agency.

The difference is that Realtors are subject to laws that the state puts in place to protect consumers from shady operators - like wholesalers.The license exam in Mass is shockingly easy. 

Not the other way around as the 'corporate veil of protection' is still valid while incorporating a business entity mind you.I think you're asking if alternatively an LLC would suffice as a way to organize, but this can easily be determined with an SEC lawyer (even an initial consultation).Your question indicated about ten people involved in this particular business plan and could be covered under the LLC as well in the ability of 'unlimited owners' (people involved)- but again that's where a consult with an SEC legal professional comes into play.There may be things that even your LLC would be involved with that (if you started there) would pop up on the SEC radar- and it seems better to know how to most legally organize from the start.There are various podcasts and books on this topic for folks in your exact situation, but I would consider maybe just skipping those and going for a meeting with an SEC lawyer from the gate- better safe than sorry, and you may be advised an LLC would work just fine for you.

@Mike Gordon Depends on the tenant and local rent protection law.