Our state and its important to make that distinction does not like the assignment game.. in other words they are clear you don't own you don't advertise it in any manner and taking an assignment fee is circumventing license laws.. these are not my laws.. but I was just in Indy the last few days looking at some of my stuff there . and of course if your going to buy distressed assets most of them come through wholesalers and my vendor there said Indiana is one of those states that simply does not follow this stuff or follow up on complaints  at least that's what he thought.. now he is licensed but he also manages a bunch of houses.. so I know many mom and pop PM companies are not licensed and will go until they are turned in then they get shut down because in all states except I think Maryland maybe you need to be licensed to PM..  

No distinction between the two.

That could helpful just to do your taxes and have records for an audit...sounds like the details for documenting could be better....Liability wise and for employee taxation issues, you can find some rules both the irs uses (search employee versus independent contractor on the IRS site) and your states outline of the distinction related to liability will probably be similar but may also focus on factors like whether you are controlling the means or just the ends (telling them the outcome is okay but not the exact means)...are you a client/customer or supervisor here?

We turned the upstairs into two distinct bedrooms with a sitting area in between the two.

, any new distinct paint jobs on an otherwise older room (may be hiding water damage), is there a smell in any of the rooms that could indicate mold? 

I know Warren and there are two distinct environments. 

However a real distinct disadvantage to that is, if you ever sell your company, someone may look at the name and then think you are that brand, and may not pay as much for the company as if it had some random name.The other thing that you can always do as well, is have a partial company name that is easy to convert across multiple sectors. 

It is important to make this distinction because the two businesses are different animals and have to be evaluated differently.

Coming to the realization that PM software is distinct from Accounting software, although each has some overlap. 

This is genuine to me because I actually do manage a number of distinct funds (but even just one fund qualifies!)