I'd venture to say a) most people don't know how to actually run numbers on rental properties, and know what constitutes cash flow, and b) if most are like me, they grow up thinking if you just own rental properties you are good to go!

No offense, but if you don't know what constitutes a good deal, you should probably be removing a few zeros from your price point to start out.Then check out this article:http://www.biggerpockets.com/renewsblog/2010/06/30...Then start reading everything on this site having to do with rentals, and that should help.

And Rule #3 is already a ruling that rent checks constitute "financing", therefore any rent credits area prohibited transaction unless you follow Rules 1 and 2 above.I used to do all kinds of financing. 

Can you tell me exactly how many of these "flips" constitute an active business?

A copy of the deed shall constitute reasonable proof as to the identity of the successor in interest to the trustor (CC §2943(e)(3)).

But, a good business/corporate attorney should do the trick.Then decide if your operations really constitute a risk, how much risk and exposure you could have, there is a heck of lot of difference between holding 50 houses and 2, or having 5 apartments or 50 or 500.

Nothing contained in this chapter shall be construed as authorizing a real estate broker or salesperson to perform any service constituting the practice of law.

The Information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you. 

Since they were drawn up by attorneys for the state of CO, my using them does not constitute practicing law.

And I'll definitely look into those books, I have about 10k and counting in the bank now to get started, I'm most interested in duplexes or "live n flip" houses I work in constitution so I'd be doing it on the side, and I have plenty of help from carpenters/painters/ electrical friends