Scott Invests Money in Fixing Up His House, an Endeavor

Scott invests money in fixing up his house, an endeavor that he expects will generate profits because he will be able to rent it out as a bed and breakfast run by his sister. This is not a security subject to federal regulation because:

A) Scott cannot actually make money from a bed and breakfast
B) Scott's investment is in his own property and not in a common enterprise
C) there are fewer than five people involved in the business endeavor
D) Scott's investment is in a common enterprise, since his sister is involved
E) none of the other choices are correct