Actual damages would be pretty easy to calculate, IMO.Read the below statute but especially section (e)(4).https://codes.findlaw.com/ca/c...

An individual who acts as a Broker without a license from the State of Georgia can be charged with a misdemeanor.[6] The Commission can impose a fine not to exceed $1,000 for each violation of the statute, with each day that a person practices in violation of Georgia law constituting a separate violation.[7] Other violations include: (a) acting for more than one party in a real estate transaction, (b) making any substantial misrepresentation, or (c) attempting to perform any act authorized by law to be performed only by a Broker.

There is no statute of limitations on the amount of times you (and every neighbor) can report violations to the code enforcement officer ad nauseam.

I read that it could fall under the "statute of frauds".

I see this occur on both spectrums:I see this very often during due diligence, where an investor will either perform a Google search thinking they know some statute or some law, then proceed with trying to fade the bid - even though the seller has had an attorney on the case for the past six months and can confirm there are no issues.

The statute of limitations for fraud was lengthened by Obama in 2009 to 10 years from the occurrence.

In 2006, (yes, five years later) and long after the Statute of Limitations of 3 years, I was sued.

I suggest you first read Arizona Revised Statutes (ARS) Title 33, Chapter 6, Article 3; 33-742; 33-743; 33-744 and 33-745, then discuss your plans with a good AZ real estate attorney.I also suggest you discuss your plans with a good accountant to be sure you understand how your income and expenses will be accounted for.Arizona Revised Statutes (azleg.gov)

A typical statute requires possession for 7 years, if under color of title, or 20 years if not.

Account Closed, Yes we can.  1031 is a federal statute practiced the same in all states.