When you're in the business of dealing in options, you are in a different category than ma and pa doing a one time option deal, laws become applicable to dealers, such as RE licensing, SEC, Finance regulations, advertising, HUD regulations, accounting requirements and taxation as mentioned. 

If you are going to pool funds you are likely going to form a PPM (this is regulated by the SEC).

Must be knowledgeable of recent airbnb rules and regulations in Asheville.

There's a lot of talk in Los Angeles City and County about adding more rent-control regulations.  

There are other things you will need to be aware of like the sec 8 regulations for your city.

This definition comes from exemptions from lender registration requirements and security and exchange regulations, it doesn't poof out of a cloud.

If you could build them for $20k and rent them out for $500/mo it may workout.Then again it is New York = highly regulated.  

With many of the northern mills closing down I am not sure IF that will change any of the regulations or not .     

Thus the issue of insider trading becomes something that may have to be regulated just like in the public markets. 

If they insist on a fee because you were smart enough to make a profit using your creates education, I'd either turn in my lic. or find another broker to work for.Perhaps as a buyer and agent you *should* have that right, but nowhere in law or regulation are you given that right.That said, as a buyer and an agent, you have the right to take your business elsewhere or to get your own brokers license if you don't like the commission split that your broker offers.