When a husband and wife jointly own a residence, and the husband takes out a Home Equity Line of Credit (HELOC) in his name only, the spouse's involvement and liability can vary based on several factors, including state laws and the lender's requirements.1.

When the loss occurs, which it will in one out of seven times, the unsophisticated investors does not understand it’s merely the law of mathematics and wants to attribute something sinister to a statistically verifiable event.This is why as a sponsor - syndicator - fund manager I DON’T like the deals that allow the general public to invest.  

Flat fee can work well for people who are knowledgeable in real estate principles and law, have experience negotiating deals, and have time to devote.  

Check your state laws on that.

The only thing that no one else has mentioned is that required by law on site agent?

.: @Yori DeanYou will have to eventually need to deal with the new law that they passed regarding wholesaling. 

If Oklahoma has a law called "Predatory Real Estate Wholesaler Prohibition Act", don't you think that might just be a state to avoid for a new wholesaler who doesn't know much of what they are doing yet?

Other than reduced bonus depreciation (if you're using that strategy), without any tax law changes, rates will be largely the same for 2025 as 2024, so you may not lose much by delaying receipt of the bonus by a month or two. 

I'm in the Reno, NV area and there are great opportunities here with the landlord-friendly laws, job growth, and above-average appreciation.

Since the same 99% unknowingly violate some state law, rule, or regulation, you may be better off with an entity.