Jay Gray Holding & Gray Investments, LLC[WEB SITE REMOVED]

The bedrooms are painted a light gray.  

That's the "gray area" of MF with loans below $1,000.000, the products are not great.

The $500k commercial loans multi-units it’s what I called the “gray area” as rates and terms are not ideal.

Since some of the factors may be 'gray areas', it might be beneficial for investors to consider obtaining legal advice to protect their interests.

I don't see why anyone would want to operate in what could be considered a gray area when the cost to get licensed is really inconsequential. 

I did find one deed restriction that the title company thought was a gray area.

As long as you make the commitment to do business as a professional, act accordingly, and not live in the "gray area", then getting your license is definitely a great idea.

I would not be surprised at all if Brandon had this metric investing in Gray's Harbor, WA after the recession as you can still buy single family homes at $40k/unit there and probably rent for $600-$700/mo. 

Because you have agreed to work with him, you create a gray zone that is probably not worth a fight for 1-2k.