As a wholesaler, they are not an “owner of real estate” per se under the licensing statute, but they do own an interest in real estate by way of the purchase agreement which the wholesaler offers for sale or assignment.If we read the licensing rule in conjunction with the definition of “real estate broker” under Michigan’s occupational code, we find a very broad definition capturing any individual or entity that:…who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation.One frequent and notable misconception is that if a person only conducts the sale of real estate on their own behalf, as most wholesalers do, they are exempt from licensing.

I have a house I just listed today.. 70% ARV..2918 Shadow Drive SE Rochester, MN Jessica Maroto - 612-396-9452

Also, the income does not have to remain in the Corp, it can come out in the form of distributions not subject to SE Tax.In a simplified manner I also agree with Troy regarding partnership taxation and the implementation of SE Tax for all income to all partners, however there are situations where investment partners may not be subject to SE Tax.

Hey @Armand Dufrane, I can't really comment on the south of Orlando positioning.It is not inefficient to go from STR to LTR per se.

HUD makes it very clear that they DO NOT promise the property condition report to be true, per se.

I would strongly advise avoiding the SE corner of Shawnee. 

Madison you can still buy cheaper dirt and have rental rates that will get you to that 1% rule per se.

So, if the unit owners refuse to allow an amendment to the declaration they will still be allowed to rent - I guess my point is that the board does not dictate the rules, per se; they are sometimes subject to a vote.

@Crystal Williams You are also welcomed here in SE LA (:

As a Direct Lender we've worked with an abundance of Title companies & frankly if we could move all of our closings to SE Pro Title we would do so.