My company does the following:• Free and simple MLO Licensing (22 hours online or in person and you choose your schedule)• Mortgage team to handle the backend (meaning, no structuring, underwriting or processing loans) • Competitive mortgage rates backed a company with 20+ years in the business• Downline revenue stream on the lending side (similar to EXP model.)• They do not have to change brokeragesIn my mind, there aren't many cons to this.

As you start closing deals, you will need to reinvest your profits into mailing lists and other scalable activities to grow your business.

The book is saying open up multiple accounts for your business for the purposes of charitable giving, owner income, taxes, paying down bad debt, etc.

The notice must be served regardless of the method of payments by the owner, whether proper or improper, and does not give to the lienor serving the notice any priority over other lienors in the same category; and the failure to serve the notice, or to timely serve it, is a complete defense to enforcement of a lien by any person.

It is a great brokerage and system, but it is the most "pyramid" style business in the real estate business.

There is no need to factor in attitude or personality in the business.

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

Which in turn will bring plenty of other investors and general business to the area. 

You might also meet someone that could be a potential business partner.

Keep your licensing and permits in order, manage all vendor relationships with contracts and adequate insurance, maintain adequate insurance on your end and more generally operate your business soundly.