Not saying we'll have price decline like in other thread but some CA market is showing stagnant appreciation now.I recognized there are two interpretations of beginning: 1) new, beginning investors 2) in the beginning of the just purchased investment.   

AT section 9101, paragraph .27 of Interpretation No. 2 states that a practitioner is precluded from giving any form of assurance on matters relating to solvency or any financial presentation of matters relating to solvency.

My interpretation of Asheville's decision was due to a housing crisis, the vacation rentals were taking away potential housing from locals. 

On top of that you have to show the house, Make sure the contract is legit, make sure the addendums are right, inspection, apprasial, etc and interpret closing figures.

Depends on the person interpreting what "it works" means right?

My interpretation of Partner is someone who is active in the partnership as opposed to "Investor", which is passive.

Assigning contract in every state that I know of is interpreted as marketing a property that you do not own - and that requires a real estate license.There was a recent BP podcast #231 with Brent Snodgrass that discussed this in detail.  

Proper insurance requirements should also be required before conducting any tests on the site.I can't stand sloppy contracts where interpretations can get vague.

It boils down to how many words they decide to type and how those words end up interpreted on the other end.  

The IRS leaves everything up for interpretation, you would have to prove your not disqualified by an ERISA attorney letter which no attorney will sign off if audited Seems crazy but If it's a gray area probably not a good idea