If you are pooling investors to make hard money loans, most states have had regulations that govern that for quite sometime already.In regards to "moving and holding money".

When the financial crisis hit, that exposed the fact that lenders and the government could not properly assess risk, because everyone assumed property could only go up forever.

He's talking about moving his business because of one power-tripping government employee.

Or as another example, will a hotel get booked up because the government is working hard to market the area?

All the logistics that I had in mind were there, Visas, government stability, taxes, tourists, access to stock, etc.

Sometimes we focus too much attention on the "illegality" and not why the Federal government wants those who practice real estate to be licensed.

I think the discussion is excellent, but the crux of the mater is @Prashant P. must have a credible estimate to give his HML.I would pay a reputable GC $500 in a minute for a room-by-room/itemized bid (not an estimate) that I could then provide to my HML, if it was the difference between getting a deal done or not.

That has helped to show credibility when dealing with lenders, investors and such.  

We went through ATB, a provincial government-owned credit union, and they are one of the only ones willing to do 50% LTV on raw land, and 75% LTV on serviced land.

Plus some credibility with local real estate types as someone who has actually done something.I did this when I was about your age.