@Erin NewtonI understand this was a quick calculation but don't forget to account for the other operating expenses, utilities, capital expenditures etc.

Current owner has been operating it this way for 7 years so he is lucky to have gotten this far without any issues. 

LOL, Shweta - I have incorporated these points into my elevator pitch :)  I am just finishing up a $75M 506(b) equity raise in conjunction with an MHC (acquirer/owner/operator) client of mine. 

I live in the bay area and I want to virtual Wholesale.

The operative words are "automatic" and "millionaire."

So I got a real good education as we talked about everything from due diligence to negotiation strategies, operations, property management, tax strategies, lenders, financial analysis, etc, etc. 

So do these two companies require NMLS licenses to operate since they are not offering the loans themselves? 

Bigger Pockets Podcasts are 2nd to the Bible in my opinion and Im seeking some innovative opinions on where I might go next as to say Virtual assistants?

While my business is in MA, all my rentals and my residence are in NH - so......After you set up the LLC per the instructions above, you'll still need an operating agreement, which most people skip. 

And they continue to operate.