There needs to be defined length of time the loan is out (so maturity date), rate, payment amount, frequency, etc spelled out in the promissory note.

And the interest rate is higher because of it.If you can define what your thought was here that might help us determine the right path to suggest. 

Look up how the FTB defines "doing business" in California and you'll likely see that it is pretty broad. 

https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/

First, let's define what this is:A capital call (aka cash call) is the process when the general partner(s) attempts to collect additional funds from their investors to supplement the financing for a real estate project or transaction.

I'm sure I'm spending twice the amount of time if not more than when I fully have everything complete.I have maintenance, rehab, and leasing staff, and am implementing all the backside (invoicing, data collection,..) stuff for now, as I need to better define the system before I can transfer it over to others.I would imagine your scale here would require at least a full days worth a work for a couple of months to set things up, tweak the system here and there, and then finally reduce your hours as you streamline it and get yourself out of those tasks.Hope that help.

I’ve tried to think back to those days in search of any defining moment of a market cycle shift.

It depends on the terms defined in the loan, but there ARE loans that they can, yes.

I think there’s all different types of definitions of a business you can use to determine what you want to do with your portfolio so think hard and smart when figuring out how to define yours.

https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/One of the biggest mistakes we see new investors make is not fully understanding the pros and cons of Class A, B, C & D properties.