I'm not a financial professional, so seek qualified, competent advice.If the property is in your name, the LLC / business entity structure will not protect you against lawsuits, etc.If that (mortgage deduction) is your criterion, however, you may want to re-examine your priorities.

I don't disagree that most wholesalers don't do it right, but some do.I'm just saying, I wouldn't go around people without knowing the full story.  

Regarding rich, I might have to disagree with you, but it does depend first on your definition of "rich" as most people never really consider themselves rich unless or until their net worth changes from M to B. 

What is your cost of capital, what is the effective rate with PMI, the trick is to reduce your cost of capital and then manage your use of funds by examining your opportunity costs.

.), who you can control, and that will be easy to work with.I disagree with other responses.

You can use cash on cash or IRR to figure out value to you but at the point of sale, sales comparables is the only thing that will matter.I couldn't disagree more.  

I know that there are many people who will disagree, frankly those are people who are trying to justify the way they run their business and will never know how it would be if they weren't an agent.  

I don't know if you are under contract on this or just examining it now, but I think you could probably find a higher COC return if that is what you are targeting.

Although I disagree with John about the unlicensed brokering thing,  I think he's absolutely right about rentals.  

However I disagree with the basic concept that it is wrong to wholesale listed properties - IF the wholesaler puts it under contract first.