If you are selling securities, you have to register your offering (get it pre-approved by regulators so you can go public), or qualify for an exemption.

i do not know if you have read any books by Robert Kyosaki, like Rich Dad Poor Dad, and realize just about all grade schools taught us the wrong things, government ********, and brainwashing we were given instead of things that really mattered.  

I spoke with the right contacts from the city today, and they are going to meet with us to confirm that splitting the lot would not be in violation of any setback or subdivision regulations.

A few days later the seller goes back to the original attorney and say there will be no credit towards the repairs because it is an as-is contract , but on the contract the seller checks off they have no knowledge of any city or Government violations, and "MY" attorney seems to be just fine with not providing a credit, the "MY" R.E estate also say this is an as-is sale with a rehab loan .So what am I suppose to do when everybody sides with the seller.

@Chris Gibbs , great point about the localization of any real estate investment and local regulations.  

@Jay Hinrichs lumber prices have always fluctuated, seen it for the 32 years i have been in construction, i don't worry myself over it, but the end customer may see an increase. it's just the government playing their games as usual, and i know lumber yards have been raising their prices a little but i do not think it will be a big hit to the prices. prices right now are the same as they were in 2013.

I feel like I have heard the government maintains an Excel file, freely available somewhere. 

Prices in California are bizarre, with incomes not increasing, tenants packed in and taxes and regulations increasing.  

-The form used for identifying the 3 properties within 45 days, it's not an official government form like a W9, it's just a template style that varies?

Plain and simple.Tenants have rights, applicants do not (aside from the housing police regulations)If your first applicant is unemployed or does not have a consistent two year employment with the same employer (which he does not) he does not qualify and should be rejected without further consideration.