I can promise you that if a relative or friend of mine got duped by an unlicensed wholesaler (which is the essence of the wholesaling business model), I and my attorney would rain down the fires of hell on them.And in case you think that an LLC or S-corp is going to protect your personal assets from the lawsuit I'd bring, the corporate veil will not protect you against illegal activities.

@Brandon CravensFirst......check you local lawa and make sure you don't have rent control or protected tenants.......if all is good...........Take it to $725 on all units.............$725 - $450 = $275/mo..............times 12 mos in a year equals $3,300 a year times 8 units equals $26,400 a year YOU are missing out on.By the way.....once the people that are paying $725/mo realize that there are others paying $450/mo ............and that they are the only ones paying this you will have extreme animosity from the tenants you just put in.Generally............not always.........but generally..........tenants that give you problems are NOT the tenants youput in, but the tenants you inherit.Have the property manager put together a nice professional letter to the other 8 units explaining how as the new property owner......you are coming up with a new lease and that includes bringing everything to market rate. 

We have a claim in with Consumer Financial Protection Bureau and they are looking into bad business practices.

In the last year, 2 of my 10 buttons have lost their protective covers (sort of like a clear plastic sticker on top of the writing) and the writing has started to wear.

An LLC gives you asset protection but does nothing for your tax situation.I don't know your individual circumstances so I cannot provide you with exact advice, only suggestions.  

Becoming a real estate is a great way to learn the culture of that side of real estate - what you won't learn at Realtor School is how to invest - creative financing and making money.What you will learn is how to keep from getting sued - how to use their forms and making full disclosures.Learn the business from their prospective - but keep in mind (before you become brained washed) that your real goal is to become a successful investor.So - follow their rules - but start to study real estate investing - get a mentor - go to auctions, tax sales - foreclosures - make offers on expired listings.So to make your broker happy -- list a few properties and sell some also.Apply for a credit line, check protection and set up some joint ventures with friends and relatives.You WON'T make that much as an agent - but you'll become wealthy if you learn how to CONTROL and ROLL real estate - make sure you learn advanced creative real estate formulas and use those principals often.Good luck with your release from incarceration of employment.

The next item to address is the Dwelling Protection.  

How to Protect you and your investors And MUCH MORE!

I have a business partner that I feel obligated to protect even though I know that I am marrying the right woman.

I will make sure i learn the tenant laws in order to protect myself.