This includes businesses that are located outside the city limits but do some or all of their business activity in the City.There are three types of Activity Licenses that you will need to select: Commercial, Non-Profit and 2-4 Unit Owner-Occupied Housing.

A home inspector will likely point out several significant code violations and inadequate construction that should stop a conventional sale anyways.

In addition to above, the lack of core investment opportunities, and inadequate inventory for proper diversification are critical issues that the industry needs to solve.At the same time, I don't think all of them are going to end up in a ball of flames.

What I can tell you, as a startup, with few properties, the tax return alone can eat up most of, or all and then some, of your profits.  

@Andrew R. the NRW 91-01: Withholding on Sale of Real Property by Nonresidents is a good link - I went to bookmark it and found I had already done so in 2012 :)My understanding is that it's "withholding" meaning the seller may get some or all of it back once s/he/they file a tax return in Rhode Island for that year.Also a close reading mentions a possible exemption for sellers 55+"In the event that the sale of the property by a nonresident will not be subject to tax under Sections 121 (One-Time Exclusion - Over 55 Principal Residents)... the nonresident seller must make the gain election and file the RI Form 71.3 Election even though no withholding need be made""If the property Martha was selling was her residence and if she otherwise qualified and intends to treat the sale under Section 121 of the Internal Revenue Code (one Time Exclusion Over 55 Principal Residence), she would still have to file the election form 20 days before the closing but would complete the election form and use the special types of transactions area on the back.

To me (unless the members have a role) this seems like it meets most or all of the criteria to be considered a security to those members of the original syndication of funds.

Unfortunely there is one error that I see, and this will come from personal experience.On your property, for the down payment normally they will not allow you to take out a loan for this, especially for an FHA loan.When you have water in here, is that for just yourself or all the units in the complex?

#1 - $200k property x 25% down payment = $50k down payment#2 - Deal sponsors who raise private capital for most or all of the down payment can provide 70% (rather than proportional) of the equity to the private investors.  

Abraham,Actually you can cross collateralize some or all of your properties and use as down payment to purchase apartment.

Hey BP,I have a question regarding what happens when an oral lease agreement switches to written.