So I wrote up a cover letter explaining how I derived my offer and submitted the letter of intent.

Join us for food & beverages, door prizes, and our exclusive Buyer's Sheet that are distributed at these events.Thanks!

Each listing platform has different rules on how the payment is distributed. 

2) What is the best way to pass on the distributions (pref returns), and year-end K1 back to friends/family?

@Kyle WilsonProhibited transactions can result in your Ira being distributed at the time of the transaction thus all of the tax free and or deferral income is subject to penalties and taxes.

Cash distributions from my experience have come quarterly which is a nice boost in those months.  

So my question is less about the distributions from net cash flow and more about the ownership interests in the entity itself, which is the part that I mentioned about the operating agreement. 

@Romeo Kaado how are you im currently planning on attending a real estate class for my liscence,but due to my criminal past im scared to lose my money because the real estate commission is not giving me a sraight answer.My history only consist of drugs distribution,no sex charges,no violence, no theft,no robberies,nore fraud.Will that disqualify me from getting my liscence because i cant really afford to lose 400$

If I left my W2 today, I would take a lump sum 401k distribution, tax penalty and all.

Some investments are capable of distributing cash flow along the way and some will require you wait till the asset is sold before you get your share.