. § 14-11-702, which reads as follws: (b) Without excluding other activities which may not constitute transacting business in this state, a foreign limited liability company shall not be considered to be transacting business in this state, for the purpose of qualification under this chapter, solely by reason of carrying on in this state any one or more of the following activities: (1) Maintaining or defending any action or administrative or arbitration proceeding or effecting the settlement thereof or the settlement of claims or disputes; (2) Holding meetings of its managers, members, or other owners or carrying on other activities concerning its internal affairs; (3) Maintaining bank accounts, share accounts in savings and loan associations, custodial or agency arrangements with a bank or trust company, or stock or bond brokerage accounts; (4) Maintaining offices or agencies for the transfer, exchange, and registration of membership or other ownership interests in it or appointing and maintaining trustees or depositaries with relation to such interests; (5) Effecting sales through independent contractors; (6) Soliciting or procuring orders, whether by mail or through employees or agents or otherwise, where such orders require acceptance outside this state before becoming binding contracts and where such contracts do not involve any local performance other than delivery and installation; (7) Making loans or creating or acquiring evidences of debt, mortgages, or liens on real or personal property or recording the same; (8) Securing or collecting debts or enforcing any rights in property securing the same; (9) Owning, without more, real or personal property; (10) Conducting an isolated transaction not in the course of a number of repeated transactions of a like nature; (11) Effecting transactions in interstate or foreign commerce; (12) Serving as trustee, executor, administrator, or guardian, or in like fiduciary capacity, where permitted so to serve by the laws of this state; or (13) Owning directly or indirectly an interest in or controlling directly or indirectly another person organized under the laws of or transacting business within this state.Good luck!

My 3rd PM is better but more expensive than if I self-managed (both including and excluding management fees). 

A cap rate measure’s a property’s yield over a one-year period, making it easy to compare the cash flow of one property with another - excluding debt.

So the homebuilder's profit will be about 15.4% (100K out of $650K excluding land).

Not excluding many on this forum.  

I'm a newbie myself, so I definitely would not exclude other fledgling investors.

The national association (MHI) responded with comments last week.Consider asking for chattel lending to be specifically excluded in writing, and failing that, to be excluded from the capital requirements.

. * The Government's directive excludes loans excludes loans that are owned or guaranteed by Fannie Mae or Freddie Mac.* The homeowner must sign a short sale agreement or DIL agreement on or before Dec. 31, 2012.* The home must be listed for sale with a licensed local-area real estate professional.

I am doing some forecasting and wanted to get some thoughts on what people budget annually per unit for repairs (including unit turns but excluding $300 of CapEx reserve). 

You owned the home and used it as your main home during at least 2 of the last 5 years before the date of sale.You didn’t acquire the home through a like-kind exchange (also known as a 1031 exchange), during the past 5 years.You didn’t claim any exclusion for the sale of a home that occurred during a 2-year period ending on the date of the sale of the home, the gain from which you now want to exclude.