Even when wholesalers “kinda’ admit to the seller that they are going to “wholesale” the property, they still tend to mislead the seller by talking about “financing partners”, “equity positions”, “mentors” “membership” etc.So, various states have, under the banner of consumer protection, enacted legislation to restrict the use of the “wholesale” transaction in RESIDENTIAL OWNER OCCUPIED real estate - note, not commercial property and not residential when the transaction is between 2 investors. 

In terms of the current rules, as you mentioned - updates to legislation are currently being discussed.

No and you need to put this on hold and research the condo nuke that's about to hit Florida in the form of new legislation that no longer allows condo boards to defer necessary repairs. 

Short term, assuming the real estate lobby doesn't sue this to keep delaying/appealing, once it goes into effect there will be no more broker fees paid by tenant *unless they hire the broker*Some long term effects I can predict already: - Landlords now having to absorb broker fees will bake this into the rent (e.g. how "no fee" units typically are priced a little higher than other units) - Real estate board will require another document (or checkbox) for tenants to sign stating that they're hiring the listing broker and responsible for compensating them for their fee *if* they apply and are approved- Regular New Yorkers will have an even harder time to find an apartment because you cannot legislate/regulate away a housing crises... 

Double check me on that because it seems like the legislation is constantly changing.

I have a heavy interest in wanting to start buying my first home in 2025, however, I am having some legislative inquiries that I want to get clarified before I even purchase a property.

The majority of states have NOT enacted any rules, regulations or legislation that has altered the “wholesaling” landscape.  

Legislation changes over 20 years and that affects your relationship with traditional lenders.

As a result, I’m uncertain if any of the properties have illegal additions or modifications.

There is a bill in legislation (Transient Accommodation Rental - TAR Bill) for Hawaii county, that is trying to do away with mid term rentals completely.