As Joel mentioned a HML is distinctly different from a JV.

There is also a distinction in taxation depending on whether you are investing in an equity or a debt deal.

Those types of license are distinct from what @Rick Baggenstoss was discussing - Rick was discussing whether as the manager of a property you own would you need to be a licensed real estate agent.

I know some title companies in Chicago do want to see the separation by 2-3 days, but again that is a situation where they are not competent or comfortable enough that they can document that there were two distinct transactions which were separately funded, the first by you with transactional funding and the second with other funds from your end buyer.

@Jon HoldmanThank you for the clarification, I didn't realize there is such a distinction with the IRS!

The current demographics show a predominately black neighborhood with most inhabitants living well below the poverty line.Please see this very interesting website on overtown-http://overtowner.comRegarding the difference between Overtown and Little Haiti, if you view it from a sheer geographical standpoint you can see the distinct difference.Little Haiti is a fairly large area with 2 borders that are very haute couture and 2 borders that are like a faux pas.Overtown is a smaller precinct with hot real estate in every direction.

Most of the time, those folks who do not make the distinction and at the same time accent the "pennies on the dollar" either do not know what they are talking about or are trying to sell you something.

You have no idea...It really isn't hard, though, to draw a distinction between commercial signs that might be up for months, and political signs that are not only up for less time, but are exactly the sort of thing the First Amendment is meant to protect.

While a license isn't necessary, it has a couple of distinct advantages: access to the MLS, access when it's convenient for you to look at properties, and ability to submit as many offers as you want at any price range.

You would have to check local zoning laws for security and privacy, California is known for some out there regulations – like scent free areas…Good luck!