Now, I am not telling you to be fraudulent, but operate within the rules. 

I am a former CFP and financial advisor who's now working as head of accounting/finance at a 500 unit multi-family operator and developer in LA who specializes in Section 8 tenants. 

@James French Hey James, I live in Lenexa, my W-2 job is a heavy equipment operator, I have over 15 years of experience in grading, piping installation, tree clearing, and any other activities with a bulldozer, skid steer, back hoe and loaded.

If you're going to use an LLC, you'll need the EIN letter, W9, certificate of good standing, articles of formation and the operating agreement. 

Cash flow can at least break even the operation cost, with about 5% cap rate for SFH. 

Once you have successfully wholesaled some properties you can start deciding what the minimum will be per assignment or other criteria you want to operate by but in the beginning I would wholesale anything that you can make money with.In regards to leads; wholesaling is mainly all marketing.

It’s the way you operate your LLC that can provide a Plaintiff’s lawyer with leverage. 

All of this can be addressed in the Operating Agreement of the multi-member LLC. 

Don’t forget to have your operating agreement ready as well even if it’s just your company.Good luck!!

Depending on where you operate, state real estate commissions are beginning to put some teeth in licensing requirements and filing charges against wholesalers operating without a brokers license.