It’s the area most would call “the hood” but they define it as being further away from key market factors such as shopping and emergency services.

Step 1: Define why you want to go big.

Originally posted by @Josh Smith:I am trying to see if I should buy a home already rehabbed or buy a home to rehab using the FHA or 203k loan with my first property to house hack For a first time homebuyer I would definately encourage you to buy a rehabber.

While wholesaling is legal in most states, several states have passed laws defining wholesaling as brokering and are requiring a real estate license to wholesale property.

You should also work on defining exactly what property you are looking for and where you want it to be located. 

In addition, the law provides penalties for a person who acts or purports to act as a real estate broker or salesperson without being duly licensed.”Acts defined within the purview of a licensed broker or salesperson include bringing a buyer and seller together with the expectation of receiving a fee & publicly marketing a property you do not own or hold title to.

I most definately would recommend something else.

I want to use the first LLC to be the GP for the second LLC and have the limited partner inside that one with a clearly defined operating agreement agreement.  

While wholesaling is legal in most states, several states have passed laws defining wholesaling as brokering and are requiring a real estate license to wholesale property.

However you define the relationship or what name you give it, both parties should be up front about their role and make sure expectations are clear.