A wholesaler's desired involvement depends on the wholesaler.

Personally, I have no real desire to wholesale.

You've read all that discussion, so you know the various opinions.Using 50%, desired cash flow of $100, and rents of $950, I would pay $56,365, less repairs, for a house.

These are great conditions to successfully low ball on price because of the money you’ll need to put into them to get to a desirable condition, and the owner knows this.  

(e.g. if you go through with NV, you would register there as the LLC's home state, and register the LLC with the CA SoS as a "foreign LLC")"I can use a family member as the registered agent, but that seems a bit less desirable."

I own a duplex in a not so desirable but safe area (small mill neighborhood), the rest are C class older homes in decent areas.

When families search, as they do, and see a sex offender, it makes the neighborhood less desirable compared to similar neighborhood without one.

My duplex, which I was so fortunate to be able to buy when I did, is in Bellingham in a more desirable part of town; not upscale just desirable in terms location.

They both include mildew resistance  The sheen doesn't matter, use whatever you want for the desired look.

I have no regrets BUT if I would have waited until age 45-50 to build it, and instead would have taken my extra income to invest in rentals starting 20 years ago.........I would be employed for fun and not because I needed it.I would build my finances with a certain goal for age 45.........then reassess wants and desires.