Here's his response:Michigan law defines real estate broker broadlyReal estate broker” means an individual, sole proprietorship, partnership, association, corporation, common law trust, or a combination of those entities who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocationMCLS § 339.2501The exemptions are pretty limited:This article does not apply to an individual, partnership, association, or corporation, who as owner or lessor or as attorney-in-fact acting under a duly executed and recorded power of attorney from the owner or lessor, or who has been appointed by a court, performs an act as a real estate broker or real estate salesperson with reference to property owned by it, unless performed as a principal vocation not through a licensed real estate brokerMCLS § 339.2503Essentially, if you are performing these services as a primary part of your occupation, Michigan law requires you to be licensed. 

Interesting article on philly.com about the huge number of commercial units available and coming online in the next couple of years: http://www.philly.com/philly/hp/news_update/326517...Combined with a net negative migration out of the city last year, I'm wondering if Philly would be a bad area to look for an investment property, despite the "get your first rental unit in your own backyard" guidance often given.Is anyone able to provide any advice on this?

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A syndication is a pool of investors that combine their money together to purchase an apartment complex.

Not bad considering all four properties combined is cash flowing me around 1800 a month. extra I am using to pay down some debts.

Between the two of us, I think we should be able to combine our assets (her equity, my stable employment, both of us with good credit) into the ability to buy a property.

That sounds like a great combination for flipping!

Hello BP, i read somewhere that you can enjoy low interest costs and flexibility by combining both term loans and overdraft.

If you combine that with the fact that you can probably get the properties cheaper anyway (due to less investor competition and more motivated seller) then, it balances each other out. 

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