We're actually having an event on Thursday where one of them is showcasing their AirBnB.

(Promissory notes or corporate bonds) Issuing debt gives your investors a 1099, because those payouts create a tax event.

This is better in some ways, as I have the backups in the event of an audit and don't have to rely on my software vendor to still exist in 7 years. 

Check out the events section on BP, search eventbrite and meetup for re networking events.Good luck!

I am no expert (hence posting here) but the bit that I have read seems to indicate that if the business is located in CA and operating in CA (as is the case since the property is in CA), the business is likely to fall under CA laws in the event of an issue. 

You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings6.

@Ben Stanley I stayed up late after dinner & spent weekends on my computer, scouting neighborhoods and attend RE investing events.

Operating Cash Waterfall looks as follows:1) Dad gets 10% pref on his unreturned capital ($4m * 10%) = $400k2) Dad / You / Sis split the next profits 20 / 40 / 40 - $80k / $160k / $160kCash Waterfall on a capital event (cash out refi or sale) as follows - lets say it sells for $5m in a few years1) First dad is paid back on his unreturned capital + any unpaid preferred returns - $4m2) Then balance is split Dad / You / Sis   20/40/40 - $200k / $400k / $400kYou could do management fees for additional involvement, fees upon a sale, etc - can go wild. 

I also recommend connecting with an investor focused agent so they can start presenting you with the hottest deals.

You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings6.