Hundreds of Barbies - I have never seen anything like it. 

This has happened for hundreds of years.If Mike pools money from others to invest and generate a return based solely on Mike's ability, then THAT would be a security. 

For example, if you were having him quote a kitchen remodel, he might quote higher end material/finishes (i.e. custom cabinets) if he knew it was going to be for your personal residence, and lower end materials finishes (builder grade cabinets) if he knew it was just going to be for a rental so he could save you some money.

I'm not going to repeat the SEC filing and county data facts here, but I posted details on this BP topic (post is toward bottom of page 3): Fannie Mae tightens lending standards on Investment HomesUsing the quarterly differences between on 2019 foreclosure counts (recorded counts) vs. 2020 foreclosures, the "pent up" opportunity (the Serviceable Available Market) in Wake county is on the order of a few hundred properties.  

- level the floors, demo existing tiles and install new flooring - 20K (cost of bathroom floors included in bathroom remodel line item)- demo existing kitchen and install new higher- end cabinets, quartz countertops, new appliances - 35K- remodel 3 bathrooms- 40K- paint inside/ outside - 7K

Did you replace those kitchen cabinets or just refinish?

It was definantly worth the money (a few hundred dollars).

On a blunt level, getting a RE license is generally very easy and takes a minimal investment (a few hundred bucks).

Starting as a systems engineer in a large, international corporation I eventually found my way into architecture (which felt like my calling) and eventually into an MBA program for a shiny Product Management opportunity coming up.At the same time I learned what my 401k really was (and wasn't) my company had a massive reduction where I watched hundreds of people lose...well, everything.

We went 3 weeks without any applicants, with most who looked at the property citing the yellow kitchen (walls and cabinet doors/drawers) as the reason for not wanting to apply.