There are obviously a lot of variables that come into play.I'm looking at developing a small 2 acre property that has already been engineered for septic and platted for 8 mobile homes. 2 MH are already on site with all utilities present, but for the 6 MH remaining that I want to put on site, the land still has to be developed.

Obviously, I'm on the "get a license" side of the argument - so whatever outcome happens down the road - it doesn't affect licensed agents anyway. 

The obvious question is why would I invest the money in the first place.

Anyway, the program was such an obvious BS fluff that an overwhelming percentage of students demanded their money back claiming they were defrauded.  

Obviously, their capital gains are well beyond the $500k primary residence exemption. 

Would like to obviously make some cashflow.  

Obviously there is risk involved (as with anything).

As the cash flow is obviously much worse than you can earn in the bank with a basic CD.

Obviously past results are not necessarily indicative of future performance, but it seems like a great investment for accredited investors to get a low-risk, solid return in exchange for some illiquidity.

Were obviously “reverse engineered” to find a way to “back into” an attractive or at least acceptable cap rate3.