You will need to make sure that any brokerage you might hang your license at would not have a problem with it and the way you plan to do it.In addition, once you have the license you are then held to a higher standard and will be treated as such in any and all legal matters that may arise.

@Jordan Santiago@David Bokman   you should put your self in the sellers shoes here.would you like your mother to be treated this way..

If you do pm me I have some good subs down that way that will treat you right.

Most sellers of multi-income property are selling because they are not treating these rentals as a business.  

I think you should just start looking for a new place, stop paying rent, stop paying water bill and leave.It really pains me, as a landlord myself, to hear he/she is treating you this way.  

Because the tenant that is currently living there has been nothing short of great when it comes to how he treats the property, he maintains it on his own, and in the 9 months I have never received a phone call about anything, I didn't want to pay for management company when there has been no reason for management. 

Either way, treat your seller right.  

I would think the major risk would be not treating the LLC like a business.

I am particularly concerned about the example of treating the $5,000 assignment fee in a wholesale deal as if it were the capital gain on a $500 investment.  

In the situation where one application has two adults, and one of the adults has bad credit but the other has good, how would you treat that scenario?