@Summer Dechanukul if someone can't say they have been deceived by a contractor or someone else in business then they haven't done much business.

And being a HML is a business venture!

They give you discounts on West Elm, Pottery Barn, etc and a membership is free if you have a business.  

One says we need to "perform a 1031" the other said that it is essentially a pure exchange and no action is needed for my dad since it is an exchange and no money is changing hands.  

I see many first time investors make the mistake of buying in a college town, but not where the students want to live.Business Sprints - You work like a lion in this business.

If your LLC is not doing business in MN, then it would seem to make sense to register it in CA to avoid the need to pay registration fees in 2 states, if you can avoid MN filing fees and requirements. 

My business partner and I are considering starting a real estate consulting practice where we would advise buyers, sellers and investors on the buying and selling process.

I assume, I will have to open business accounts and use those to manage my business expenses and business earnings etc. 

The rules are confusing me for whether this is only needed for hiring an individual independent contractor or if it's needed for hiring another business as well. 

I currently have an airbnb in the Tampa Bay area which is performing well.