There are specific way to structure it and minimize risk, that's why I'd like to find a local attorney who does these deals on a regular basis.  

If you want to participate in passive income streams thru larger MF, you can also get involved in partnering w/experience players that are 100% focused on acquiring, re-positioning and eventually selling larger apartment communities.  

I suppose it's more involved with Muti unit properties though.

Listen to the podcasts, get involved in discussions of interest to you.  

@Rob Terpilowski when you get potential contractors involved would depend on how set you are on the deal and how certain you think you can make the numbers work, I would think.  

IMO, a CPA, local or otherwise, is a great choice - - they have their license a risk with EVERY action they take. 

I work with several investors involved in flipping to total rehabs.

Best chance you have is to leverage the money and buy multiple properties to flip at once but that increases the risks as well.

@David Bokman is correct, you don't need to have your license to get involved in Wholesaling but it does provide good resources like access to the MLS, collecting commission, and networkingUltimately, I don not have my license but my partner is working towards his.

To me this is not a great fit for a lease option.I have one more separate and unrelated question re: lease options -- In your experience, how hard is it to do lease options when real estate agents are involved?