Does that mean I could sell 30 homes per year spanning 3 x 10 different and unique entities, and not need to be dodd frank compliant?

Immaculate condition, almost everything new, including kitchens and baths, all new replacement windows, hardwood floors professionally refinished with 4 coats of oil based polyurethane,all new wiring and electrical panels (all knob and tube eliminated), new plumbing and washer dryer hook ups in each apartment, new interior and exterior paint 2014/2015, newer cast iron boilers, 1st floor has additional natural gas fired high efficiency Rinnai direct vent wall furnace, State and local fire code compliant with all new 90 minute fire doors and modern whole house fire detection system.

So what is the easiest legally compliant way to raise private money capital?  

If I am legally able to service it myself, where can I go to find out how to stay compliant with state and fed regulations?

Such an arrangement would be perfectly compliant w/ IRS rules.

The legal part never costs us more than $1K as the solution presented by the attorney was the compliant renovation plan.  

They have the knowledge and resources to conduct a Fair Credit Reporting Agency compliant report.Best of Luck,Sandy GloverAll American Tenant Screening

Their use is pretty well established by local custom, but you still have title concerns, circumventing foreclosure laws and ability to pay rules depending on your deal, including financing terms being compliant.

Your friend needs to make sure he stays compliant with state and federal laws and make sure he is personally protected as far as the property itself.

Treat them consistently and stsy compliant.