I will, of course, talk to my CPA about this but curious to hear thoughts from people knowledgeable about this topic. 

I absolutely plan on talking to my BIC about this.On the topic of wholesaling, it is absolutely legal in NC.

Ultimately, you are going to have to determine a strategy and come up with steps to get started. https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-dealBest Wishes! 

I did research this topic and was inclined more on software-based (mainly due to price) but would like to get real-life opinion of BP community.The main pros i see having an on-prem property manager are:1) Ease of rent collection and managing tenants2) Auto schedule of any maintenance and follow-upsThe con i see is the monthly payment (8-10% to property manager vs <$90/unit using software)The key points I am trying to find are:1) Does the above pros on having on-prem property manager same with software-based?

Not the other way around as the 'corporate veil of protection' is still valid while incorporating a business entity mind you.I think you're asking if alternatively an LLC would suffice as a way to organize, but this can easily be determined with an SEC lawyer (even an initial consultation).Your question indicated about ten people involved in this particular business plan and could be covered under the LLC as well in the ability of 'unlimited owners' (people involved)- but again that's where a consult with an SEC legal professional comes into play.There may be things that even your LLC would be involved with that (if you started there) would pop up on the SEC radar- and it seems better to know how to most legally organize from the start.There are various podcasts and books on this topic for folks in your exact situation, but I would consider maybe just skipping those and going for a meeting with an SEC lawyer from the gate- better safe than sorry, and you may be advised an LLC would work just fine for you.

https://www.irs.gov/businesses...The specific IRS outline to these deductions you'll be able to find in that link. 

Perfect timing and perfect topic for you.Just google Mogul Mastermind and email Eric in the Vancovuer team for an invitation.

Seems like everyone is curious with this space; sounds like it would be an interesting topic of discussion!

Just something to keep in mind, because there is a lot of content out there on this topic, and not all of it is right for everyone!

Here is a related discussion on the topic which you may find helpful:https://www.biggerpockets.com/...