I’m very glad things didn’t work out.Lastly, Zach’s partner, Daniel, who seemed to be a more level-headed individual didn’t help matters any.

I have partnered with individuals on fix and flips but my goal for 2025 is to buy my first LTR.

Can anyone verify this is OK or is it state by state-regulated based on their individual jurisdiction?  

Hello @Tove Fox,You are not investing in a state, you will invest in an individual city.

Oh well.However, if it does come back, what I found was that creating the optional "Individual" FinCEN ID makes things a lot easier. 

The fund itself is separate than these individual contracts.

At the end of the day, both of these respective vendors/individuals are paid when the deal closes. 

This property is unique in that we can rent out the whole property or we can rent out the property by individual rooms because each room has its own bathroom and it runs as a bed and breakfast.

Quote from @Jay Hinrichs: Oregon finally passed legislation to reel in unlicensed wholesaling its in this months publication from the state RE agency.Highlights:Goes into effect  July 1 2025Requires:On line application to become a licensed wholesaler  ( RE agents exempt from this of course they already have licenses)Name of company and individuals who will be performing these services.Each one needs a full criminal background check and approval prior to receiving the license.300.00 annual fee for the license.Written Disclosures in Bold 10 point.These must be given to Buyer and Sellers prior to entering into a wholesale contract and signed for.Also RE brokers assisting wholesalers need to give these to potential buyers and sellers.

Making matters worse, 99.9% of individuals on BiggerPockets who want to buy in distant markets do so because the entry cost of doing business is lower.