Most states do not require a specific license, although I know Nevada does, but many states provide guidance and that guidance requires certain limits of insurance to be held, certain limits of a fidelity bond to be carried and a license of some sort, like a CPA license in any of the 50 states, and attorneys license in any of the 50 states and or a designation by the federal exchange accommodator's association. 

I have a few ideas in mind already but I'm absolutely horrible in the designer/creative visualization area....would love to see how others would chime in

I'm currently in college for industrial design so I have a lot of insight to the creative world and production side of economics.

With all the talk about a bubble and a crash being imminent, it's the leveraged ones that will suffer more in the down turn.

The parts I'm still unclear on are whether or not the member-managed vs. manager-managed designation (would still be just us making the decisions either way - no other members or outside managers) and the at-will vs. term designation has any impact on liability or taxes.Thanks again for your help.

./$4800 yr. after expensesMy annual return percent is right at 20%Again, this is my first one, I designed a tool in Excel and checked it against the BP tools, but am I doing this the right/smart way?

I am having a little difficulty designing my present flip.  

They get the freedom to manage the deal, work with preferred contractors, brand their flip, design, sale/resale, all of the above. 

just wanted to give a quick shout out .. thats great you and your brother are teaming up together .. i have been trying to convince my sister ( who is so taleted with interior design and landscaping ) to move down here .. we are very close also .. i thnk she has finally given in .. she has said she is going to list her main house up there and move down here ..

We have a legitimate subprime auto loan bubble, wall street has securitized cell phone bills and rent payments, the stock market seems to have no place to go but down, incomes are not keeping up with home prices, Canada and Australia are facing housing downturns, foreign investors are bidding up high end homes, private commercial lenders seem to be spending big bucks on finding new customers and HGTV flip shows and investors are all over the place....