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

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.

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. 

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

This fallacy is a bias that favors recent events over historic ones.  

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

There are multiple Real Estate investor networking events that happen here in the Orlando area every month.

Many syndications will have special days or events for investors to visit the property to see how things are running, see improvements, ask questions, etc.I invested in a syndication last year and have been invited to several events already, plus they give regular updates on improvements and performance.

A few tips to build it faster:1) Attend local real estate meetups and networking events—Houston has an active investor community, and BiggerPockets is a great place to connect with others before meeting them in person.2) Join Facebook groups and other online forums for Houston real estate investors.