Applying for Your License There are no prelicense education, prelicense examination, or continuing education requirements for a limited broker's license, but you must apply for a business entity license (as an individual proprietor or some other type of business entity) and pay the associated fee.

I propose a Tuesday night dinner at the Marshfield Tavern, 1 Proprietor's Drive, Marshfield.  

My wife has pre-existing conditions which means to insure our family as a sole proprietor our insurance bill will exceed $2k per month.

I'm a single member LLC so I'm treated like a sole proprietor per the IRS.

As a sole proprietor you can contribute a 20% profit share after making up to 17,500 in elective deferrals.

I also recommend it for my small sole proprietor clients.

Your choices are 'sole proprietor', provincially registered company, federally registered company all of which can have almost whatever ownership structure you want.

What happens if I just sell it as a sole proprietor as it sits right now and turn around and buy a rental property with the proceeds?

@Alexander Merritt An LLC could serve as the holding company - we do not have LLCs in Canada, so your choices are to own in your own name (sole proprietor) or within a corporation (like a C corp in the U.S.A.).I would consult with your real estate attorney and CPA before setting up any ownership hierarchy (nested or serial LLCs, C-Corp, S-Corp, etc) to see what best fits your current and future needs.  

When you conduct business as a sole proprietor (meaning by yourself, no partner, no corporation or company formed), you are essentially telling the courts you agree to be held personally liable for your business dealings.