This excludes the benefit of MLS access, seeing houses whenever YOU want, etc...

This excludes servers, bartenders, etc where the majority of their money is made from tipping.  

@Curt SmithI'll make a really broad statement, if you do want to do one or two sandwich lease option deals a year it's not a big deal as far as being licensed, this is only my opinion but I think most "departments of real estate" could care less of 1 or 2 dealsThe big point I'm trying to make is if you want to do 50 to 100 of these deals a year, there's no way around not being licensed in most states because you're acting as a major business operation, there is a pattern of similar business activityAnd I've said this over and over, all it takes is for you to get a negative reputation at the department of real estate in your state which will stain your reputation from being licensed in the future; all it takes is one real estate broker to write a letter to the commission and now you've got headachesIt's prudent just to get licensed and build a business you can be proud ofA sidenote:  I think a lot of people on BiggerPockets think that if you are licensed it stops you from doing creative deals,  that's not true at all.Regarding sandwich lease options on nice houses in nice areas, Dodd Frank excludes your relationship with the owner as an investor, if your subleasing and sub optioningI think there's a great opportunity for you getting rent credits and doing creative contracts with your owner as an investor with sandwich lease options, but don't be broke and not have some reserves like 3 to 6 months in case the tenant buyer doesn't pay you when you sub option and subleaseAnother issue is be careful of who you let into the house and make sure the tenant buyers  work on their credit and save money for down payment and they truly want to be homeowners.

Upon a finding of delinquency of the account consistent with the policies adopted by the public entity regarding nonpayment, cost of the service and expenses, the clerk of the public entity may file a notice of lien with the county clerk of the county in which the property is located describing the property, cost of the service provided and expenses incurred by the municipality, excluding late charges, penalties, and interest, and stating that the public entity claims a lien on the property for this service; provided, that a lien shall not be filed against property in which the delinquent account is owed by a tenant or lessee and not by the property owner; "

Never trust a contractor, present company excluded of course.

This means that you can exclude up to $500,000 in tax free gain as a married couple. 

I won't buy any property that isn't immediately worth more than I paid for it including the cost of rehab and fees/expenses associated with the purchase and a little (or a lot, depending on my strategy) left over for a margin for error and profit.By that simple definition that likely automatically excludes toxic waste dumps and environmentally contaminated sites because the cost to cure can far exceed the property's value and can follow you even after you sell.  

I would have though SFR would only mean houses but I could be wrong.City DUMONT,NJ BERGENFIELD,NJ ENGLEWOOD,NJ NEW MILFORD,NJ WESTWOOD,NJ EMERSON,NJ HILLSDALE,NJ RIVER EDGE,NJ HACKENSACK,NJ Property Type Residential: SFR Equity(%) 41 to 50 % 51 to 60 % 61 to 70 % 71 to 80 % 81 to 90 % 91 to 100 % Bedrooms 1-4 Last Market Sale Date 10/22/1900-10/22/2010 ADDRESS-COMPLETENESS Mailing Address Complete CORPORATE-OWNED Exclude

There would be language in the real property sale that mineral rights were excluded.  

I'm just trying to help provide for my family and notes "fit" the circumstances of my life as it is right now.Dion and Scott have given me the rest of the nuts and bolts to try and determine a way forward that (hopefully) excludes any close encounters of the worst kind with the FBI, the SEC, the CFPB, the FDIC, the DOJ, DHS (they are into EVERYTHING) and ALL their friends in acronym hell.