You can always give up your license if you don't intend to benefit the company and strictly play the assignment game.

The best book will be your State's landlord tenant laws and regulations.

Does anyone know how Realtyshares.com gets around these regulations?

Regarding legal issues about wholesaling, I can point you to another BiggerPockets post pointing to a Blog by highly respected attorney Jeff Watson, who speaks with two members of the Ohio State Board of Commerce - Real Estate Division where the regulators clearly state what is and what isn't legal regarding Wholesaling. https://www.biggerpockets.com/forums/93/topics/193865-videos-of-jeff-watson-and-ohio-regulators-speaking-about-wholesaling

This is a business, you will be a business owner, there are a load of state landlord tenant regulations for you to learn before you even think of buying a property.Many will suggest you jump in with both feet.

Some have strict license requirements like experience and education.

But to each is own,As far as a LLC is concerned i would open the LLC in that state since that state has their own laws and regulations.

If they are not on the lease, you don't have any right to enforce rules/regulations or evict them.  

Andrew Postell Regarding the (up to) 10 loan limitations, could that be overcome by finding a "portfolio lender," or do they also have strict limits?

And for those who are in their 30s and think they will retire with paid off rentals, don't forget to factor in the following:Maintenance, taxes and insuranceDepreciation for your heirs to repayUsually good appreciation at first and then slowing in later years,,,why followsEconomic devaluation due to properties maturingChanges in demographics of the community, hot areas don't stay hotCompetition of comparable units and and newer unitsDecline due to obsolesence, may not command rising rents foreverMaintenance issues deferred become rehab projects years laterTax benefits die outGovernmental regulations adopted may cause additional expensesVariable costs increase- with stagnet rents (ie, taxes and insurance)Property becomes inefficient and functionally obsolesent in the market.Buying a 15 year old SFD when you are 30 and keeping it till you are 65 gives you a 50 year old property......now go into neighborhoods with 50 year old properties and see what the market is like inthose older areas.......I suggest you buy, do a 1031 or sell and upgrade your inventories.