random questions about note investing

[Austin Davis]

so a friend of mine is trying to get me to consider doing some note investing. I've started doing the initial research, and I came across a few questions I wanted to see about Clarification? Assume np 1rst for this question.

What sort of activities require a brokering license ?

does selling partial notes require a brokering license ?

I see that quite a few poeple raise private money for these deals. Outside of a typical j.v. Set up, how else are deal structured? I see some investors will get several passive investors to pool money together for a deal/deals. How are those structured ?

I see alot of people will purchase pools of notes . When pooling money from more than 1 Jv partner,  and purchasing a pool of notes how is that deal structured? 

 if you Jv on a note and sell a partial from it  , how is that handeled?

 I've read about concerns with bumping into the SEC, outside of a qualified investors issues, what would cause the SEC to take notice of ur note investing activity? Are notes considered a security ? At what point / what activities might require a securities license?