If they are each active you have a partnership or JV and are all clear.Google Howey test for rules regarding what constitutes a security and make sure to run this by your SEC attorney.

Ok so for my first question, what are the rules/laws on adding on rooms to a house.

Should I break the rule of trying to keep investment properties close to where I live and look further away in areas that have less of a risk of the ground just opening up one day and swallowing a house? 

The problem is state level politics has now shifted into what will likely be one party Democratic rule from here on out.

Can you purchase anything that can still get or beat 1% rule? 

Very easy to hit 1% rule here in midwest and look forward to hearing from you next week. 

-There are rules against going to individuals and asking for money.

It is easy but there are some tricks/rules if you want it to hold up.Refinishing will be cheaper or equal in cost to installing a new low quality flooring.

Thank you for replying Kenneth,I've read the Estimating Rehab Costs book but it is more of a rule of thumb in the way it is written.

Or is it the case, that this rule of "one business day" is more of a loosely held rule and the one business day can turn into three or five?