Which of the following does NOT require a real estate license?

When considering the necessity of a real estate license, it's important to recognize the activities that fall under the jurisdiction of real estate practice according to Indiana law. The correct response highlights a specific scenario—reselling a mobile home not affixed to a permanent foundation—where a real estate license is not required.

In Indiana, the resale of mobile homes that are not considered real estate does not necessitate a real estate license. These transactions are often regarded more like personal property sales rather than real property dealings, which sets them apart from traditional real estate sales.

On the other hand, individuals such as property managers overseeing residential buildings, real estate agents acting as brokers, and investors selling real estate are all engaged in activities that generally require licensure due to the involvement with real estate properties and the legal and financial implications associated with those transactions. Thus, it's clear why reselling a mobile home, in this particular context, does not fit within the same legal requirements.