I have been looking into the license and it all seemed so confusing so I greatly appreciate the explanation and numbers in your post.

I think I need a better explanation of LTV as it relates to REI who are flipping.

Agree it does complicate the explanation and understanding but like a hedge fund, its giving the GP more incentive to hit it out of the park but by doing so, all investors win.4) Your money blueprint - the psychology of wealth.I re-read a great book last week by T Harv Eker called the Millionaire Mind and highly recommend it.

Explanation of Second Tier Entitlement.

Has a personal relationship with the company or principals (digital marketing can actually help with this).Also, regarding how Vandabur assists multifamily syndicators with marketing, feel free to connect and dm me, as BP forums are a solicit-free zone.Hopefully, my explanation made sense.

Hey Sean,Thanks for the explanation.

Thanks Chris, but wouldn't I have to get a letter of explanation and have a huge down payment (more than 25%) as my last year's tax return does not show the raise in my w2 income?

I never heard nor found any explanation that this is bank’s insurance I will not sell property.

If you have additional cash to put in, you don't need to have debt at all, as long as you're not coming out ahead in either direction (less debt or more cash in your pocket).Here's a quick explanation: http://www.exeter1031.com/article_1031_exchanges_d...I also like how this site worded it - you have to replace the 'value' of any debt you have in the relinquished property, the IRS doesn't care how you replace it (debt or equity). https://www.ipx1031.com/replacing-debt-in-a-1031-e...Hope that helps - but, Bill, please correct me if I'm wrong!

@Scott SteffekThank you for your explanation.