If you do not take ownership of it and try and broker / wholesale it, a Note by the SEC is a security instrument and may be very similar to a stock, so in order to broker it you need to be licensedI do not know anyone who has ever had a complaint or been slapped by a financial regulator for this but if you talk to an attorney most will take the cautious route and say brokering without a license is a violation

I've been passively looking at commerical opportunities on cape cod but this market is extremely challenging with an much regulation, historic preservation, flood zoning and septic issues. 

I'm a licensed agent here in Philly, but I deal strictly with investment properties.

The rules and regulations for wholesaling are not usually posted anywhere. 

And in the country they don’t have much written or regulated so I wanted to get myself educated on what would be the required steps to follows as I’m a newbie to d industry and then start the investigation locally.Hope this clarifies what I have in mind.Thanks in advance! 

@Warren, Destin has done a solid job with their recent regulations.

When it comes to comply with DF act, each state has their own rules and regulations.

Banks are regulated by the government, while owners are not regulated.

Also, with more government regulation,  man-made canals and new docks extending into tidal waters are becoming a harder thing to find. 

Even if it is strictly to use them as a source of education.