If you can find an honest mentor that does more than sell his darn CD’ in the hopes of building an army of working ants that will find homes and be too afraid to pull the trigger so they send the home to him as a referral.

Roger - Try reading this and other threads posted here first:http://www.biggerpockets.com/forums/30/topics/74992-doing-lonnie-deals-and-the-safe-actIn Florida if you are going to lend money, you, or an employee, must have an MLO and the MLO must be employed by a licensed lender (most likely a captive finance company you create) and the lender must be state and federally compliant with a variety of laws that relate to lending.That means creating and implementing a Compliance Management System.

Upon receipt, all shareholders must sign the completed form and submit it to the IRS for approval($99.00) - Registered Agent Service Fee (1 year)Optional fees:($49.00) - Compliance Service (1 Year) which will make sure annual reports are submitted on time and that my business is kept in good standing ($35.00) - Nevada Certificate of Good Standing for a S-Corporation ($69.00) - Obtain Federal EIN Number - We apply for EIN using client's social security information($35.00) - Prepare IRS Form SS-4 (Federal EIN Number)Total is about $500.Also, I was going to incorporate in NV but do business in CA... is there something else I need to do in order to do business in CA?

Technically, an option can trigger it.

I certainly feel that license fees and restrictions amount to a "tax" as well.Not sure how "healthcare taxes" are impacted by assets or earnings, but yes, in a way, but if we are going to count all taxes, fees, charges, compliance expenses required by government.....how about, Occupany certificates, sales taxes on materials for improvements which fall again under any gains, sewer assessments, utility deposits and inspection fees, engineering approval fees to building regs for improvements, all hidden taxes and fees hitting a property owner.

Interest is certainly there and the effective rate can be determined for compliance with any usury law, saying it's not there is not a way to avoid the issue.

I would heloc (home equity line of credit) the home out and in case you found a great investment, you could quickly pull the trigger and trade cash flow of rent for immediate cash in hand.

He's very careful these will appraise out before he pulls the trigger.

Having an agency relationship may not trigger the requirement for a license, but if a closely related activity requires a license, it may be on you to prove one is not specifically required.

There have been many changes to seller financing, institutional lending as well, I really doubt there is a book with current compliance issues covered.