Why would I ever become a HML?

[Derrick S.]

I know that HML is a lose term, but I'd define it as loaning money for interest plus points once a deal has been verified. It seems like I could make a lot more as a professional JV, partnering in the profits 50/50 and having a say in how the property is handled to make sure profits are there. If the deal goes bad I didn't do my homework, but the money I put in is still owed me...

Maybe it's not one person that becomes a HML, it's the funds and groups, and in that case it makes a little more sense. But as an individual, is there a reason to pursue the HML model?