So if you want to go full-speed wholesaling, having a license is likely to put a couple extra steps into your process.If you're going to be successful in Real Estate investing, you will be successful with or without a license - wholesaling or otherwise.

Good luck on your next step into real estate investing. 

Wholesaling is my stepping stone for getting into real estate. 

@Chris Mason.....Yep, I totally missed the changes and even though it's a limited channel that this can be done in, it still opens the doors to allow it to happen, which is huge for those willing to step out on that limb.

It is common for investors to have their properties in LLCs, however there are some steps to be taken before that can happen.  

If there is a claim and you are insured that's a great first step...BUT, be very sure to review your policy and exclusions from Chicago.   

On the HUD website it says only that: At least 80 percent of the units must have at least one occupant who is 55 years of age or older; andThe facility or community must publish and adhere to policies and procedures that demonstrate the intent to operate as "55 or older" housing; andThe facility or community must comply with HUD's regulatory requirements for age verification of residentsThis all seems a bit too easy to me, but can't really find step-by-step directions anywhere to do this.

No, I definitely have included all contingencies at every step of the way.

I am still trying to get to know the basics and I would love to learn more about the individual steps of building your RE portfolio from the ground up.

In my opinion, the challenge (at least for a conservative investor like myself) is wading through the "junk" to find the few pearls: high quality sponsors and deals.But before jumping into deals and sponsors, I would recommend taking a step back.