In fact, you need to register in EVERY state you do business.However, you can create an entity on one state and then Foreign File that name in another (Nev and Del are the usual for tax consequences).The filing for an entity is a one-sheet paper, and frequently it is online with the Secretary Of the State (it is for CA and Nev).

People are trading homeownership for rental properties in large scores.For the last decade the number of renter households has been on the rise.

As long as you are purchasing property that you intend to hold for productive use in business, trade or investment as replacement for other investment property the type of property and the seller do not  matter.  

Hadn’t had much success trading time for dollars, have had several careers though out my life.

In the agreement includes clauses of timeline completion with penalties for late completion and the fact that they need to communicate when they will not have at least 2 crew members working on site working and it can create conflicts with other trades such as electricians, HWF , carpet install, etc.

If you are handy with any of the trades then you can also put in some added equity into the property through small rehab projects.

I guess when they pull credit, they'd see the fha trade line, and I imagine that's when they'd ask if you have one of those 4 situations...?

Also be aware of unintended consequences.  

All items from IRR, to plans, to any utility upgraded you will be responsible for to meet the CURRENT "CODE" for all trades , dirty work aside from demo, drainage is ALWAYS a major concern and will require engendering, will you have to install and or improve of site land or hardscape, disability access requirements, and a number of other factors.....

Operating as an unlicensed broker there is not any real possible consequences for dishonesty, etc except possibly through the courts.