Our properties have ranged from $100 - $200k.Am I violating SEC regulations because he is fully passive and puts in 50% capital?

We're purchasing our first property in Arizona and learning their LLC regulations as we're from CO.

@Theresa Harris There actually are laws/regulations against putting fliers in/on a mailbox.

I just closed on a duplex in the Tampa area in Florida a few days ago with the VA loan I am house hacking due to the regulations of a VA loan.

Please keep all replies related to the Real Estate aspect of the proposed regulations. 

One of the regulations of a 515 is if it’s for profit you have to operate in a “limited profit basis”.

Just note that Scranton itself has more regulations to deal with and the taxes are higher (both property tax and also realty transfer tax). 

@Keith Ravenel  We don't like to deal with HOAs either, regulations can be flippant.

And you might want to check with a regular real estate (not necessarily eviction specialist) attorney to make sure that your activities and approach are generally complying with the law, e.g. the RI Mortgage Foreclosure Consultant Regulation.

There are very clear cut definitions provided in the code and regulation on each of these, but the simple examples above are a good way to think of it.