Best way to find out is to call your municipal  and county finance office and describe what you intend to do.One caution, operating a rental without a business license if required can mean trouble if you ever evict a tenant and they may not allow you to obtain a judgment for damages if you are not compliant, not to mention a fine.

There is a fine art in selling education.  

I have no idea about your state, but I am pretty sure that you could be walking a fine line.

Just want to give everyone a quick update on this one.We closed a week ago with a final purchase price of $275k.  

Welcome to BP, Capital gain is a tax term measures the profit over you costs of holding an asset Capital growth is a finance term measuring the amount of profits realized over a specific term, say one year or 5 years or 20 years.

But feel that the investment potential of real estate outweighs the % interest on our loans, so its a fine balancing act. 

However, after extra digging and research of the financials of both entities, they decided to include a portion of the rental revenue from the management business' lease.This is a fairly complex issue and I would advise you to seek more in depth professional advice before making a final decision.  

Whether it be answering the phone, swinging a hammer, or getting coffee for someone who has seen the ins and outs of this business, We've decided it's a fine time to quit beating around the bush and get down to business.This may sound ridiculous but I've retired my TV and Xbox(and all other useless time-wasting things that kill my productivity.)

I know a finance prof and will talk with him.

Edit: Also, we the HML's don't really decide what the going rate for hard money is...The market decides that...There's plenty of people out there willing to pay the rates that you think are absurd, so the market clearly thinks it's a fine rate.