LLC & Licensing Question

[Vanessa Garcia]

I know you shouldn't mix business with family, but my brother and I do amazing work together and can have honest discussions about things that are on-going with our joint ventures and projects. We want to invest in real estate notes and from things I have read on the forums and various blog posts I told him I think we should start an LLC.

Problem?  I live in CA, he lives in TX and we want to buy notes from all over the US. 

We want to buy notes, but not service them. Do we need licenses to do that? Both of us? Or just the person doing the majority of the business dealings?  Would the licenses have to be from each state we are doing our dealings in or just the state we live in is enough? 

We may be considering possible investors although have no investors currently.  Right now it is just me and him but in all we have learned our minds keep turning about other people we know and the possibilities. 

Thanks for any and all help.