Writing a business plan is a VERY useful exercise and undervalued on this site (in my experience) so I'm glad to see someone mentioning it.

How did your job play a role in your getting the property?  

On a team, you can play a valuable role and learn all aspects while not having any one transaction or client rest fully on yourself since they'll have transaction coordinators, lead gen, and office staff to help out.  

Business implies an active role in the business.

Note that the potential buyer is Not Obligated to buy the property, but the seller IS obligated to sell if the buyer exercises the option. 

Your optionee may, or may not, exercise the option. 

So I find myself in a situation where it's easier to identify and view the property of interest myself, and then between the real estate attorney who fills out the forms and the inspector who examines the property, the role of the broker appears to be limited to passing the handful of messages back and forth during offer negotiations.

After your friend has refinanced the property, I'd recommend quit claiming the property into a multi-member LLC with an operating agreement outlining the roles and responsibilities of each member.Talk to your CPA regarding tax consequences.

Non broker dealers can't be compensated for just raising capital, so he's saying the subject person needs to have a role other than just raising capital.Here's the actual text.I am not a lawyer, but I am a Joe Fairless student :)

The point of the exercise is to make money and be satisfied, or find an investment vehicle you like better.