You also need to materially participate in the business in activities other than simply raising money3.

I would be most appreciative for the info, as this would help me achieve one of my goals to achieve financial freedom, while in active duty in the Air Force.

Here is a copy paste from the email direct from the club I am speaking at this Wednesday, August 21 @ 6:30PM in Burbank:Do you have our Real Estate Club in Action meeting on your calendar for this coming Wednesday Aug 21?

I've dealt with inaction but the way I have gotten over that is listening to experienced investors speak humbly.

My biggest problem has been inaction.

There is a CashFlow game in Burbank next Wednesday (Club In Action on MeetUp.com), if you want to network with some people in the business in person.

Inaction can kill ya.

My kids are in activities on that night, but hopefully I can do some rearranging and attend the meeting.  

Usually, you'll have leeway in actions to "winding up the business" of a member or the entity, (generally covered by statutes) will dictate how assets are to be disposed of.

You're still a licensee, disclosure aspects don't  usually specify "active" or "inactive" it's having a license.