@David FaulknerI'm looking for ways to wholesale WITHOUT the shady aspects.

As you reach critical mass you'll find that you're farming out most things. 4.

It's more important that the joint LLC invest in its properties through property-level LLCs, rather than having them all directly owned by a single LLC - because then they are all in the same bucket that is attachable by any creditor of any property within the main LLCIt's also really critical to have a good, strong LLC agreement between you that deals, especially, with how you get out of it if you need to do so.  

I think the combination of those two things might serve me well as I get underway with wholesaling, and eventually the other aspects of REI.I have lived in the Houston area all my life and have grown to really appreciate the culture and history that is part of our great city. 

You probably do it anyway but a great tip is to take pictures of every aspect of a rough once its complete on a renovation.

I guess I enjoy the rehab aspect since my father was a carpenter and I was an engineer.

Like there are no negative aspects (aside from rates/costs). 

It sounds like you are looking for a career and you need to have an education and then a position in an associated aspect that provides you exposure to development.

If they aren't FTHB, or otherwise can't swing FNMA HomeReady (income limits by census tract of the property, for example), and can't do 5% down conventional, and time is critical (because your HML rate is 15%, you need to recoup capital for the next deal, etc), find a different buyer.You aren't pressuring your buyer to take a crappy loan, for the record.

All aspects of legalities and processes would be greatly appreciated.