@Joshua Beall
Basically, wholesaling as "instructed" is a net listing, an agreement to allow a facilitator to profit over an agreed price with an owner.
The way to stay out of trouble is to take title!
You don't need a different entity for each deal!
I guess I'm going to use the word "secret" only because few really know how to manipulate operations in an LLC, excluding our BP attorneys. :)
Okay, the secret is; you admit members to the company, what they do is included in your operating agreement. I hold a special meeting, I elect to admit Joe the buyer, any registration requirement at the state level probably is minor fee, if any requirement exists.
My contract is executed in the name of the LLC, not me personally but I sign binding the contract.
I admit Joe, he has a capital account, money comes in, it's an accounting entry. Another entry is our purchase, debit cash credit property asset.
Your entity can be a Series LLC, so the property is really Joe's asset and under his control according to the operating agreement.
If it not a Series, Joe is still entitled to the asset and control according to his capital account and the operating agreement.
Joe can do whatever, fix and flip, rent it, paint it blue if he wants to.
The profit to me is under the administration of the LLC, my fee, or whatever we agree to do.
Now, if Joe doesn't want to stay in my company, fine, we close in our LLC name, make our accounting entries, then Joe withdraws his assets from the capital account and can deed the property however he wants to, ths is not another purchase but a transfer of assets held by Joe.
However, caution, states have transfer taxes, transferring a deed may have tax consequences, so check with your tax folks!
LLCs can have a revolving door, other members enter, they can stay or leave.
Your operating agreement rules, so you can toss out all the assignment contract stuff, all the BS deceiving a seller, having make believe partners who you have no relationship with.
These known buyers can sit in an LLC, avoiding many liability issues with an empty capital account, they can also be in a non-voting status, your operating agreement has a hold harmless and indemnification agreement, you can also remove any member at any time. You do need to know who you deal with, but it's primarily the accounting of assets and liabilities that will dictate the responsible party. If Joe takes bankruptcy or kills 7 kids and a Nun in a school crosswalk, I can kick him out and all I need is an accounting to present that Joe didn't have zip in the company. Also, a buy sell agreement is handy to be executed upon certain events, cash out the departing member, this too goes to the operating agreement.
As to operating agreements, you only do one and keep it, you can change or amend it as needed, but you do need one adopted. Admitting members and removal of members will be covered under state law, widely the same procedure and accounting requirements, nothing complicated really. You'll find the requirements in your state corporate law governing LLCs.
Next, yes you can take ownership in title with a TIC as an agent, just need your disclosures as a licensee. Being in title is much different than acting as an agent, broker, strawman, or facilitator of a transaction, there is no net listing issue when you are in title.
Title held as a TIC is very common in multi-family and commercial properties but you're free to hold title to a single family dwelling or raw land just the same. Joint ownership is often conveyed as a TIC from inheritance automatically to unmarried parties. Tenants in common is no secret!
A TIC Agreement is a bit more complicated done properly, but if you have one for a strategy then it can be duplicated over and over or modified as necessary for the deal.
And, yes, I have used TIC in financing, buy and hold, flips, development, options, installment sales, it applies to anything you need to do with an unrelated party, heck, you could be related too! It's just a form of ownership.
Search for TIC on BP, I've gone into greater details before.
Staying compliant with laws and acting ethically is not hard to do, it is when you jump on the run away circus train with clowns wholesaling, especially when they think they are in the business of wholesaling. :)