I found out he was evasive about receiving a 1099 because he is on government aid.

That is all concerning federal laws, what about Texas laws?

But yes, all in all, you'd be looking at over $100k in taxes at the federal level alone assuming those values are all correct. 

Knowing the regulations that govern your business is mandatory if you wish to stay out of court.You need to have esstopal letters signed by tenant and landlord prior to completing the purchase.

Borrower has outstanding federal tax liens, judgements, code enforcement violations that are not paid, etc.

When I went to take my test at the government building in the Financial District I was solicited with business cards and flyers by a couple of professionals representing firms, but I am wary of pursuing cold promoters in this fashion.I was curious, other than googling reviews, is there a smart way to vet which organization I may want to "park" my license at?

Credit Unions typically are like minded people who join together to pool their money (there is a "Boeing Employee's Credit Union" for example and a "Naval Federal Credit Union") and then lend to each other.

Once you incorporate in your state, you can get a federal tax ID and a bank account.

One thing you do have to worry about is they normally have an out clause if they lose federal funding where they can cancel with 60-90 days notice. 

We delivered the logs... paid off the Timber deed.. now we have made 200k large.. and own the ground free and clear.Took the top 40 busted it into 4 10's sold those for 125k each to home owners.. then METRO ( quasi government agency ) came in and bough the lower 120 from us for 1.1 million.. its now the Cooper Mtn..