Since NC is one of the more highly regulated states in terms of REI, you might want to touch base with an attorney that has experience working with investors, if you have not already.

@Gene Mitchell, I think you overstate the need to avoid the use of debt financing.  

While I don't have an answer for you, I would check into the Dodd Frank and CFPB  acts that are coming down the pike.http://www.investopedia.com/ask/answers/13/dodd-fr...I'm not a lawyer but from what I can get from this act in regards to real estate financing, even lease options with rent credits will be considered financing and regulations will apply.  

First, what a state does or does not mandate as a maximum number to sell manufactured homes derives from legislation and secondary legislation that regulates and restrains the ability to sell manufactured homes.

I spoke with an escrow company  and that said tha most companies in Va are not working with investors  to do wholesales deals due to a recent change in the regulations for the state.

I tend to have a very good memory for laws and regulations and I have a eye for details.  

For reference a transfer of the beneficial interest DOES trigger the clause:The statute [12 USC 1701j-3(d)(8)] and the federal regulation [12 C.F.R. 591.5 (b)(vi)] say transfer of a home into an inter vivos trust does not trigger the due-on-sale clause.  

Advertising for private money falls under Federal and State Securities Regulations. 

California is highly regulated, you can report them to the Bureau of real estate in SacramentoI don't have time to investigate them, I don't like when I hear so far

@Gene Hacker, thanks.