One common approach is to form a legal entity, such as an LLC, where both of you are equal partners.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

With software like propstream I can even look at seller mortgage details and MLS private remark.Getting license you only know the legality aspect of being an agent but doesn't necessarily means you would be a smarter one to get to know the market.The only thing that I can not do with propstream is I can not download all disclosures when I try to purchase.

Looks like the founders are trying to raise funds for their legal fees. http://www.gofundme.com/nwaclubLegit or not, I've deciding to pass on it. 

I know it’s no longer legal to do wholesaling in SC but let’s say you have the money to buy the property and you can turn it around.

As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial intereststransferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to purchaser.If all or any part of the Property or any Interest in the Property is sold or transferred

Whether it's a legal demand for compliance or simply an email, it doesn't really matter; just make sure everything is in writing. 

Is there a specific document that I will need?

If so what documents were used?

., asking questions, reading through the documents, etc.) and continue educating yourself via books and podcasts so that you can leverage that expertise to do your own deals in the future.