This gives you a great overview of the regulations and requirements by the state to run a compliant and successful RCFE.

@Luke Texidor How did you manage to stay legally compliant on the "day laborer" thing?

I would not rely on getting contracts or LOI off the internet as you may not be compliant in your state, IMO, if you don't have enough money to get a contract and LOI, assignments and related documents to be in the note business, you shouldn't be in the note business.....sorry, but it's not the same in every state.

@Danny Duran - We use the Chicago Realtor lease which is compliant with the CLTOhttp://www.concreterealty.com/media/ApartmentLease...

You need a specialty provider firm specializing in these types of account to set up IRS-compliant plan for you.Solo 401k plan is not for everyone, you must be eligible in order to establish one.

All logic tells us that either the SEC or CFTC will govern those trades and ALL will have to be compliant with the regulations of either agency. 

There are also tried and proven ads for housing, it's not rocket science.One aspect of any national organization is that thier program, while it may be compliant with law, it may not be in tune with local custom.

And you're right they are 1031 compliant. 

If they refuse of are non-compliant, then you should fire them.  

If the original appraisal was non-compliant and if the value from the field reviewer came in at least 10% less than the original appraisal, they would make a case in court for a buy-back.Want to know how many appraisers got sued for having an appraisal identified as flawed within the FNMA buy back?