It seems to be a pretty natural evolution for many investors.

It is not retaliatory in nature also.Is it legal to raise rents on one property and not all of them?   

When they ask the nature of my business, do I advise that I'm a real estate investor?

When you deliver on your promises and provide exceptional returns, investors naturally want to share the good news with others.

AZ is not prone to major natural disasters so investing there is less risky with regard to those types of setbacks.  

Naturally, this makes some other people (read: voters) unhappy.B.

That will dramatically change the nature of the wholesaling business with the legal compliance factor that agents need to comply with.

Given the nature of small towns, we have personal relationships with multiple members of the board which we believe positions us well for success but of course there is still uncertainty.

Meaning if one partner initially contributes 60% & the other contributes 40% then that would naturally give you a 60/40 split2.

Quote from @Michell Chase Chase: I registered my LLC in Wyoming and was not told anything to that nature..but my investment property is in NY so I also have to register my WY LLC as a foreign entity LLC in NY as I will be generating income in that state...