Talk to a securities attorney.

@Jesus Ramirez Income from wholesaling is treated as active income, subject to self-employment tax in addition to regular income tax (at ordinary rates).An LLC is one option but your entity structure should be decided after a full analysis of your situation by your CPA and attorney.

I asked my attorney he said you should have a separate policy that goes under the LLC don't put it under your name. 

All I wanted was info...had to hire an attorney to get my company off title...it’s was a terrible experience so I have never done any business with this outfit since that experience.

Now I'm not a CPA or tax attorney so this is just my understanding, please consult with appropriate professionals but if you were to live in it as your primary residence than you should be exclude from long-term capital gains up to $500K  (for a couple) of profit when you go to sell it, not sure what your intention was on length of time that you two would live there or desire to sell it down the road.

I'm curious to know, at what point do you decide to only bring on a few investors and make them part of the GP to avoid the costs for SEC attorney/docs?

But there may be exceptions and some states have varying rules, although RESPA is a federal rule.See here:  https://www.cresinsurance.com/what-to-know-to-avoi...https://www.nar.realtor/ae/manage-your-association...I would suggest speaking with an attorney in your area to ensure you are in compliance with RESPA.

If it is indeed included in his bankruptcy but he was interested in selling it should I get in contact with his bankruptcy attorney?

As the seller, I've been notified that the house appraised for the selling price, no but never received the appraisal itself.Again, neither of us are attorneys but I'd be willing to bet that there is no burden of proof here. 

(ie: RE attorney, Property manager)Anything else you would like to add that is relevant to the subject, by all means feel free to do so!