But the minute you have more than 1 investor in those 2 scenarios, you now have fractionalized it and it becomes an investment contract and you are back within the definition of a security which is quite broad under the SEC definition.Judicial Exceptions include:A note delivered in consumer financing; orA note secured by a mortgage on a home; orAny short-term note secured via a lien or assets of a small business; orAny note evidencing a “character” loan to a bank customer; orShort-term notes secured via assignments to accounts receivable; orAny note which formalizes an open account debt incurred in the ordinary course of business, especially when collateral is involved.

I would also say that if you go the LLC route, it is not the set up that you have to worry about it is adhering to the formalities of the corporation.

I just don't have a big market, so it's tough to find something like this particular property as evidence.I was thinking of something more general, like a formal study of various markets, but I haven't found anything except general articles or blogs.

TIC is just a way to hold fractional ownership in a property while HOAs are created to formalize and organize fractional ownership.

In that situation, would you just try to find someone trustworthy enough to give you a referral fee say, instead of a formal contract assignment and have them just write up the offer so you aren't tied to it?

They can guide you through the process for disputing the classification and updating the records.Submit an Application: You may need to fill out a formal application or request to change the property records.

It is extremely important that you know the basics of real estate as agents learn for their examinations with the exception of state real estate commission related materials.70%, I'm sure after being here for years on this site, of the questions asked on BP have the answer in the basics of a formal education in RE.Can you, as a newbie (or more most here with years in doing what they do) imagine being able to give an intelligent answer to 70% of all the questions asked on this site after receiving about 2 weeks of training?

If you plan to up the rents, a long term tenants may get disgruntled and file formal complaints.

Wild that you have to submit an RFP, didn't realize it was such formal process!

It is really unfortunate as, to make a long story short, I actually previously held the property in my own name for greater than 1 year, and then quit claimed it to the LLC, after which the LLC sold it within a couple of months.And, in answer to Brandon's question, no unfortunately I/We did not consult our accountant prior to taking the action because around the time of the sale, we were transitioning from our old accountant (who really didn't understand the nuances of real estate), so we didn't have a formal accountant for a few months.Lesson Learned:  Accurate Tax Planning & a Knowledgeable Accountant are Invaluable!