Usury is so important to the people that it's not just a statute, it's in the state constitution.

Going to depend on family law statutes in the state where they got married and the state where the LLC is registered. 

The LIHTC is capped by statute and the bidding is very competitive so the 9% credits usually go to large development/rehab projects.

@Taryn Elbaor, @AUDREY DESOUZAhas the right idea. 1031 is a federal statute but most states also follow suit and recognize the same process.  

Account Closed Yes, with the most recent updates to the land trust statute you can use that structure. 

Another interesting aspect was attorneys asking for exemption for legal staff and another concern seemed to be for attorneys that did not have a client relationship with a proposed borrower, but perhaps with the seller.Jason has a good point IMO, it's hard to say what will happen until states spill the beans and if states do not implement similar statutes, the HUD version will govern.

Refer to your state statutes.

I don't have the exact caselaw and statute in front of me, but the following links give you a brief explanation. http://www.firstam.com/assets/pennattorneys/asset-...http://www.firstam.com/assets/pennattorneys/asset-...https://www.stewart.com/content/dam/stewart/Micros...http://www.pennattorneys.com/assets/pennattorneys/...Even in your example, if the estate fails to pay any inheritance taxes due on the diamond ring from the estate, the Department of Revenue can go after you based on its lien. 

Since I am not a lawyer and genuinely ignorant of the specific statutes in Colorado (and in other states for that matter) I came to this forum to get broader understanding of what would be against the law and what wouldn't.Yet as I stated in my original post talking to a real estate attorney and eventually getting a license is still a plan.Prior to getting the latter I would like to understand in what capacity I can legally help my friend.

And how did they violate the statute?