It's my understanding that Wisconsin holds that distinction.

One can't theorize that "All swans are white" and then see an example of a black swan and still have the theory be valid.So when you say that it's rosy rosy rosy, if it can be shown that that doesn't hold true in regard to today's stock market, then the theory is distinctly about "real estate, love, birth, and death," but not stocks.

For example, if you want to have two distinct businesses would you do that?

This is a really important distinction.

The concept of lending and the business model lenders use today has evolved quite a bit over the past few years and has created distinct institutions that offer credit to everyday consumers like you and I.

Ana,That is distinctly possible.

Some states will take a more aggressive line than others about attempts to evade the intent of their licensing laws.Some states create a clear distinction between "individuals" and "corporate entities" in their laws.  

Scott and doing it yourself and cutting out all the middle men and keeping those profits for yourself thereby creating a better buy for you that will move you up in asset class by the virtue of you getting the better deal.Do you self manage or do you flip that to PMthese are important distinctions vis a vi other investor that don't have the benefit in living in the Mid west like you do. by just doing it yourself in all of the above you pick up 1% of the 2% rule right there. 

The distinct odor of marijuana smoke was wafting from their apartment into the parking lot.  

Point being bulk, as opposed to single unit transactions, which he referred to as retailing.Whatever the case regarding choice of word and definition of that, a key distinction about the activity of wholesaling is that I am selling my position to a third-party.. its not about doing it for the benefit of third-party.Those are legal distinctions that we need to know when defending ourselves against Realtors who think we are encroaching on their turf, and turn us in to the Wisconsin DSPS.