Bonus points if there is a group that can also provide legal guidance for those same areas! 

I'm looking for some guidance from folks who have been to this rodeo before, and bonus points if you've worked with Western Alliance Bank...before I spend a couple thousand without results.

It should likely be capitalized and bonus depreciation can apply (special depreciation) which accelerates the rate at which you can write off the asset. 

if its all your money and risk. then the 50 /50 split is not warranted at this level.I would want a better split for sure.. something like Hey we pay you set fee and a bonus but no way 5050 at least for me

Or take the mortgage out completely and add your rent payment in under the taxes or some other expense category. 

It is amazing to me how many people will trust their hard earned money with someone that was in middle or high school during the financial crisis.Beyond this initial search:Experiencetrack recordBusiness PlanAsset typeProjected returnsFinancial StructuresRights and remedies in legal docsRedemption rightsSupplemental Capital CallsOperations capabilitiesOwner/Operator or capital raiser for othersK-1 TimingUse of bonus and accelerated depreciation1031 optionsVertically integrated or outsourcedExperience of team through multiple market cyclesBackground, if any, prior to real estate and syndicationProjected returns net or gross of fees and carrySeeing full financials of current deals with budget vs actuals (if syndicator does not share, or only shares P&L delete their contact)Color on deals that went sideways or lost money and whyMarket analysisColor on why they like that dealRisks of the deal, as they see themDo they have third party audits, ideally from one of big 4 firmsAre they a fund or single asset?

If you had to create an intermediate category, what strategies would be included? 

The only type of sales job that qualifies for REPS is real estate sales, under the definition of brokerage.Below are the 11 categories that qualify.real property development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage.If you are full time in sales, then it is unlikely you would qualify.

If you had outside space for kids to play, that was a bonus.

Some property owners were able to add a portion of the sign company's revenue (say, 10%) as a bonus, but sign companies are getting away from that model because there are just too many billboards any too much number crunching.