I'm sure there are numerous ways to structure a partnership. 

New regulations after the financial crisis restricted the compensation of LOs, and increased regulation, so it effectively made it much more difficult to make big money as an independent.  

2) Where are the spots located, and how would you regulate their use?

I don't want to business with the listing agent for numerous reasons.

Watch that you don't do some thing that would backfire categorize you as a regulated or needing a license.

Although when done well, it can be a lot if fun and be profitable, it's not as easy as many people think and requires lots of attention to detail, accounting skills, knowledge of applicable rules and regulations, deal analysis, and at some point the ability to protect your money loaned when someone's dream all of a sudden becomes a nightmare for both parties.

., will GA regulators hunt me down and persecute me for not having a license? 

All of whom have numerous years of experience with Real Estate Investors, and many of them personally own Rental Real Estate.Five Year Purchase Plan:We plan to buy one to three properties per year, starting with 2-4 unit properties and eventually 50+ unit properties by the fifth year.Totaling a minimum of 126 units within five years.Property CriteriaProperties will be purchased at least 10% below appraised value.The target price is $25,000.00 per unit with average rents of $550.00, and a minimum of $100.00 monthly cash flow per unit.

We know there's a lot of competition so we're looking to stay on the OO side of things until we can build up some equity.We're totally new to this and I'm just really hoping to expand our vision especially in terms of financing our homes...it's getting really difficult with all the regulations now.I am also looking into the San Antonio market until Austin calms down a bit.Excited to share thoughts and meet new people on the forums!

I explain all the regulations and how all those fees/other expenses could be waived.The VA loan is truly an amazing loan.