lots of government houses like HUD often offer properties to home buyers before regular investors \can bid on them. 

Also, just announced yesterday was federal funding for the Trinity River Vision Plan (valued at $1 billion) and TEX commuter rail between downtown Fort Worth and DFW airport (valued at $500 million). 

Because the cities have a large planned government infrastructure modernization, many investors are thinking about moving into the area.

@Ryan DosseyThe Federal Trade Commission is who regulates the advertising laws that we have to abide by (as agents) so it wouldn't very by state.  

This would be for both Illinois State Tax and US government filings. 

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your ow business. 

If its when you sell the house, do you also have to pay additional state and federal taxes at the end of the year on these profits?

Are there any rules governing the listing specs on rentals?

If you have MLS access cross reference that with reliable real estate data (news articles, studies, government agencies) to find where the hot areas are.I'd say it all comes down to knowing your market and your audience.

Does this rule vary by lender, state, or is it federal.