Foreign nationals have the same rights to purchase real estate as German citizens, making it easy for Americans to invest in the German market without additional legal barriers.Furthermore, Germany has a transparent legal process for buying property, ensuring clarity and security throughout the transaction.

Were the transfers from the tenant credit card or ACH transactions. 

You will find a whole lot of OPINIONS as to the ethics, morality, etc. of doing a subject to transaction.  

I actually think it is a benefit to both parties to have professional representation to assist the seller and buyer with these types of transactions.

He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.

How many small banks and businesses went bankrupt and closed?

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

But I'll mind my own business now. 

I could never find anyone that had done business with them.

Unfortunately, the only guarantee in this business, or any business really, is there are no guarantees of outcomes... ever.