Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC.

I founded Legal Hackers LA and was named one of the one of ten women to watch in legal technology by the American Bar Association Journal in 2014.Before Patch of Land, I worked for the federal government. 

Thus far I have interned with the NYC Department of Design and Construction and have worked as a Site Supervisor for a handful of Federal projects in Hawaii.

If there are no state laws on it, you still need to follow federal laws. https://www.epa.gov/lead/lead-based-paint-activities-professionals

If the tenants make under the poverty level for Federal guidelines for income then you cannot garnish their wages.

There are federal laws that must be followed if you reject an applicant based on financial background check. 

It is a federal statute.  

. :) Meanwhile, I can still start my loan origination tasks without a fully ratified contract.At the end of the day, we followed all the rules and this loan will be salable on the secondary market and insured by the Federal Housing Administration. 

The lender may also look at your 2 year average income as reported on your schedule C from your Federal tax return.

I have worked with Philadelphia Federal Credit Union and Valley Green Bank with commercial mortgages.