Breck in particular has also been severely restricting new STR's recently (last I checked the waiting list was 80 units long to get a permit, permits can only be issued in certain areas that are also among the most expensive parts of town, and the annual regulatory fee just went up from $400/yr. per room to almost $800/ room among other new rules and regs).

Carried interest: The remaining profits are distributed among the general partnership and the limited partnership according to their equity splits.ExampleConsider a syndication that raises $1 million from passive investors and uses the waterfall distribution method.

If we pay all cash, would it make any difference whether we form the LLC or not, assuming we have good understanding and offline written agreements among the partners?

A good GC has a good set of subs who will make time for him in their schedule, because he sends them repeated work.A good GC will also keep things flowing by coordinating among the different subs to make sure the schedule goes right, that drywallers don't cover up the walls before electrical and plumbing rough-in are done, that the inspections are called in at the right time, in the right order, so you don't end up having to remove work that's already done.

I like this choice because you can see who people recommended and who they decided to go with based on their interactions among the many CPA's(depending of if they shopped around).

Does this company have a good reputation among the investor community.

You don't want to put yourself into a situation where you are choosing among the best of the worst if you don't have to.

Why couldn’t the cost be evenly spread among the other doors?

Thanks for the mention @Eric TrostleAs an investor, I joined Equity when it was just getting started because the model is incredibly investor friendly.As Eric mentioned, the fit with the broker is among the most important things. 

and why should supposedly financially astute entrepreneurs - like us - risk it all by counting ourselves among the 90% of defendants who will be able to settle for what our insurance company will pay, or among the 99.99999% of motorists who will make it home safely today?