I guess one could claim that brokering notes and private mortgages is a business that is separate and distinct from trading securities on an exchange.

You don't put 20% into the hands of the settlement attorney; you bring it with you in good funds at closing.Hopefully there's a distinction in your contract between earnest money and the down payment.

The distinction is a mortgage/loan used to Buy (purchase) a house, verses one used to Refinance a previously owned house.

But the distinction between normal wear and tear vs. damage is the root cause of most landlord/tenant disagreements. 

The individual partners fail the ownership test and, consequentially, do not qualify for the net passive loss allowance.It is a fine distinction, but just how I see it.

One distinct difference is that you can't roll in rehab with Freddie, whereas you can with Fannie.  

Decades ago, I owned 3 rentals, but they were put into service immediately after closing, so this distinction is new to me.

EdYou need to make the distinction between repairs and improvements.

The distinction - in his eyes & understanding - between broker and investor under this Options Contract had to do marketing.  

And you'll see a distinct difference in my business model versus what the other guys teach you...