Just posting to say things will be changing, there are enough guru bashing threads and posts here. :)

If you are exempt from Dodd-Frank, you may proceed without a RMLO, and lease with an option.

Unfortunately I've come across a lot of discussions that have smart behind comments bashing wholesalers.

In this case, this is a fairly new concept (to me anyway) and for this first deal I have agreed to split all proceeds equally with my investors on both cashflow and equity.  

Should I proceed?

Because of the SAFE Act I'm nervous about proceeding too far into the deal.

The owners that want to sell can file a partition suit, where the court will order the sale of the property and the distribution of proceeds.

If you can't figure out whether to proceed by then, you don't need to be buying the house.  

Still somewhat of a newbie so my next question would be should I get the structural engineer first or is it possible to get an estimate from the contractor for just this portion of the project before proceeding.

In less than a decade I will sell my liability (personal residence) and buy an apartment complex with tax free proceeds.