Just saying.Your interpretation of Level 1 is inaccurate.

I interpret this that if you're getting a Fannie mae cash out refinance that they'll check to make sure any existing loan was in place for a year.

@Damon Armstrong it depends on how you buy and sell.It's best to look to the RE laws pertaining to licensing and see what activities requires a license, if you don't hold a license don't do those activities.It's rather natural when someone reads law that they try to twist or scheme their way through the literal written word to avoid legal issues, laws can be broadly interpreted in your area.

You have one LLC that you file and the rest are basically just a piece of paper you keep in your desk, instead of filing each LLC with a secretary of state.Because of this lack of filing documentation and the newness of the structure, it is hard to say how individual states will interpret the liability protection among the different LLCs within a Series.

In fact, Fannie purposely leaves many of their guidelines vague so that they have the liberty of interpreting them in the event that they get a bad loan.  

I never meant for my post to be interpreted as women not being able to handle REI.

Since utility easements must be at least 15 feet wide and ADUs must be built in the backyard, I am interpreting this regulation to mean that I would only be able to build an ADU on a large or corner lot.

They're very simple one-page contracts and can be easily interpreted.

I think the risk pro/con could be a matter of interpretation.

Creating a detailed Scope of Work document for your rehab project is critical because it establishes a clear project plan that your Contractors can use to provide accurate Bid Proposals up front.A 'SIMPLE' SOW as you requested can leave too much room for interpretation which can result in inaccurate bids, Change Orders, conflicts and disagreements once construction starts.I have an example SOW template uploaded to my BiggerPockets fileplace which you can download as example of the level of detail that should be included for each trade category.