Having spoken with enough investors who hold licenses, I now believe this perception is incorrect.I didn't want to subject myself to another regulatory authority that could annoy me and provide a forum for baseless complaints.  

If you are in the 39.6% bracket, the tax rate on the amount of your rental income that is offset by depreciation is 0%Congress (in 1986) decided that when you sell the property, the amount of rental income that was never taxed due to depreciation should be recaptured and taxed at a maximum rate of 25%.  

Someone has to write checks, that someone should have a cut off as to check signing authority, like $500 or $1,000 at which point consent is required by the other. 

I'm certainly not the authority on the rental market in my area,  but from what I hear from seasoned investors is that it's strong here.  

Will you be dealing with the City authorities or will it require going through your State? 

@Kevin Wood  I dont think non disclosure has any bearing on tax;s the taxing authority puts there own value on the assets regardless of what you pay for them.  

I was on the Iowa Finance Authority website but all I got from them was that it exists and has some restrictions not how to apply or what needs to be done in order to take advantage of the programs.  

It would have to obtain a Certificate of Authority to do business in Maryland, pay taxes in Maryland on the money it earns here and the cost to do all of this is the same $300 a year you'd pay for just a Maryland LLC.

Agents determined Hanson authorized the release of the investors’ monies from his Scottrade Account, ETrade Account, or StockCross Account, into his personal bank accounts.Hanson used the money for personal expenses, to pay off parties unrelated to the investment, or he would use the money to pay off earlier investors who were clamoring for a return of their money.According to court documents, Hanson also engaged in an unrelated ongoing fraud in Apple Valley, Minn., for which he faces a civil suit.

No money down books are not written for any reason other then to make the author money.