Nothing will happen if you are following the law. 

In TX I think the law states if someone stays a certain length of time they can be considered a tenant.I was at a seminar a while ago and the speaker spoke about renting houses to students. 

I'm moving on to my second live-in-flip, and would like to minimize taxes and I need help navigating through capital gains/self employment tax laws.

No clue who they are, but states like IN and OH will be better for lower taxes and landlord laws than IL and WI. 

So my question is would it be advantageous getting a CA real estate license to familiarize my self with the process and laws then get another license in NC to gain access to the MLS and then build from there or wait for my move and just continue general studying until I can properly focus on my market and state specific laws?

So my question is would it be advantageous getting a CA real estate license to familiarize my self with the process and laws then get another license in NC to gain access to the MLS and then build from there or wait for my move and just continue general studying until I can properly focus on my market and state specific laws?

(Just to add confusion: LLCs can also elect to be taxed as a corporation or an S corporation.)Some states have laws that are different than federal law.

If you are strictly a debt investor then read about creating notes, look for 12-15% interest locked in with a lien on the property and a personal guarantee from the borrower.

My option, of course not knowing your state laws, would be to simply say know and allow the tenant out of the lease so that you can find a qualified tenant.If you are not legally obligated to accept welfare tenants get rid of them.

Is there any law around this (I’m in California)?