I plan on pursuing my certification in 2018.

I never was inclined to pursue wholesaling but was intrigued by how much it is discussed.

If the owner finds out you wholesaled it and made a quick profit, and he tried to sue you, you want him coming after your LLC and not your personal assets. 

@Ali QudsiUnless you are some not-for-profit organization - you will be required to pay property taxes.There are some instances that you buy a newly developed land/building and the county strikes a deal with you that you won't have to pay property taxes for X years but will ultimately have to pay them once the period is over.You can decrease your taxable income related to rental properties with depreciation.

ProsRisk DiversificationPotential to find better opportunitiesMore property available to choose fromConsFewer economy of scale benefitsStretched to thin due to more things to keep track ofAdditional risk due to higher overheadRisk of needing to rely on a new set of individuals (Sometimes the Devil you know is better than the one you don't)Potential to end up with less profitable opportunities

Smaller flips, time in and out in 1-2 months, will be more profitable over time and allow you to keep quality contractors continuously employed.Spending more on hiring more contractors will effect bottom line on one flip but enables you to do more flips in same time period increasing over all profits.

It's possible to team up and for me to teach you how to do them as a profit split if you are interested and if it's legal in NV.

Aside from the extra paperwork,CPA fees, LLC annual fees, bookkeeping wise, it's pretty straightforward.Finally, you need it for banking purposes, so each entity has its own checking account, so each business would have it's own profit and loss.

On the other hand if you purchased wrong your debt repayment and expenses could show no profit. 

They should not use any third parties nor should they assume the property is a Turnkey because the photos on the MLS look good.I would check out:The Best Types of Markets for Profitable Turnkey PropertiesandWhat to Ask When Working With a Turnkey Provider