NoOhio Revised Code4735.01 Real estate broker definitions.As used in this chapter:(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

I'm from Dixon il, a rural community. I am new to this. Have looked at a couple properties and want to invest in either a 2 or 3 unit property with option of living in.  As a first investment would I be better off liv...

Hypothetically your rich uncle could loan you the money and secure it against the house legally, but he cant be engaged in that activity as a business without the proper license and without following some pretty strict rules.Very few HMLs are licensed to loan to owner occupants. 

You will find that there is financing available that does not require you to have great credit as long as your deal is good and you have some skin in the game.

Welcome to the game Bill!

I am an Indiana Boy, so I guess I have a biased opinion on the subject, however I am also one with not a whole lot of $, and I just can dabble here and there in real estate, buts it hard to keep with up with "Big Dawgs" in this game.

I would suggest partnering up with an experienced investor for your first few projects to help you get some skin in the game and gain some hands on experience.

However, this can be a complicated game and you really need to make sure you hash out a strategy with a real estate CPA - not a generalist.

I would suggest building a strong team around you for your first few investments to help you get some skin in the game.

It sounds like you have a very solid game plan and vision.