It sounds like the separation between success and failure is based on proper preparation and realistic expectations.

There is also the lending field which is quite lucrative if your more into financecommercial real estate if some day you want to be doing bigger deals and making 6 figure commissions checks.. etc etc.to try to start your business as a flipper or wholesaler is tough and it has a 95% failure rate being that it appeals to the mass's of which many frankly don't have the skills to succeed or the financing behind them.OR converselyMake money at your chosen profession save and buy and hold.. buy the best you can hold for long term.. same with buying securities .

There is a $500 per day penalty, up to $10,000, and imprisonment of up to two years for the WILLFUL failure to file initial or updated timely reports.Where to file the BOIR report?

@Edith TenBroek...When you next communicate with Clayton, try to dig down on why communication seems to be a common failure in dealing with his team.

Second, the investment may have been made anticipating a chance of failure; for example an investment may correctly analyze that it has a 50% chance of a 25% ROI, a 35% chance of a 50% ROI, and a 15% chance of a 50% loss.  

Are today's syndicators that are buying yesterday's failures getting good deals? 

All deals have the following issue, you should stress test, the degree of failure before it impacts the Capital Stack and then what happens.1.

It's not about expecting failure but about being realistic and avoiding future legal issues.

See, Hurricane Kartina, Maria, etc, etc,Bill, while there are cases of third party counter risk similar to "Equifax" getting breached, these are due to centralized points of failures and (generally) completely out of your hands. 

Seems like capitalism at its finest, but I am not in that space.PPR has a process for operating and liquidating the funds in the event of a business failure of PPR.