Illegal? Agent doing own syndications?

[Stu Johnson]

Hello all, I’m about to get my license soon in the good state of Arizona. I’m looking to do my own syndication deals (general partner) to buy/sell apartment buildings and make my own commissions. I could elect to reinvest the commission to the property to make improvements, but get a bigger cut of the equity, and cash profit dividends. Or, I can keep my commissions and let my partners get a bigger equity position and more of the monthly cash flow. I want to know if anyone else has done something like this?