I have a question: If I have a primary residence (highly leveraged) & I decide to move out and keep it as a rental property, then that property's equity would now be classified a "real asset". 

Plus, there are some new components of the stimulus package that strongly encourage those classified as real estate professionals for tax purposes to pour more money into real estate.The primary ways to generate more cash flow are room rentals and airbnb. 

If you're classified as a real estate pro, your rental income could be considered "active," which means self-employment taxes. 

Some cities are ok with the use, will classify it as legal nonconforming, but an important question to ask the city directly is, "What happens if my property gets destroyed by more than 50%? 

Actually, 3 and one was about to become classified as blighted if they didn’t act to improve their property.

These names are easy to find and they will be found.For all who think these gray areas are ok to delve into because they aren't expressly prohibited should check out this article from todays' Chicago Tribune entitled Mortgage Cops Taking a Tough Stance.http://www.chicagotribune.com/classified/realestate/foreclosure/sc-cons-0913-strategic-default-20120913,0,4134066.storySome key quotes."

Get to KNOW the local market, go to open houses, scour classifieds, etc.

I'm not saying wholesalers don't need a license, but direct mail campaigns, signage, print & classified advertising, etc are all public facing.  

Things are really heating up in Florida around this topic to...if the investors you know don't like to look for their own properties, than that's an issue...I would be reluctant to classify them as an investor.

Check with your State Finance Department and ask how you will be classified as a dealer/lender in wheeling and dealing !!!!