Final answer:
Federal tax regulations are not covered in the Michigan Real Estate Law book (Red Book); it focuses on property transactions, licensing, and ethical conduct specific to Michigan.
Step-by-step explanation:
The answer to which of the following is not covered in the Michigan Real Estate Law Book (Red Book) is C) Federal tax regulations. The Red Book primarily covers topics related to real estate within the state of Michigan, which include property transactions and contracts, real estate licensing requirements, and ethical conduct for real estate professionals. These are all aspects directly involved in Michigan real estate practice. Federal tax regulations, while they may affect real estate transactions, are not the primary focus of state-specific real estate law and are instead covered under federal law resources.