No states I'm aware of, and I'm a broker in 21, and a salesperson in 2, require the performance of a ministerial act. 

A $50K investment from a psychiatrist who has no idea what they are doing but wants the "freedom" "low risk" and "generational wealth" the GP promises comes with zero power over the syndicator in an incredible lopsided distribution of power not available from most other sources of capital. 2) Ability to Charge WAY more in fees: A naive accredited investor with little experience in private investments will fork over fees like: - 2.5% acquisition fee- High Management fees (2-5% of rents) - 2.5% disposition fee- 1-2.5% refinance fee- 20-30% carried interestThe fees that many of these social media influencers charge would get them laughed out of the room by any family office or private equity shop.

The best sponsors build their reputations and investor base on long-term performance and trust.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Everything went smooth and the property is performing well so far.

The pitch was basically $15,000 for 0.5 acre parcel on an under-performing commercial coffee farm his group acquired with the expectation of a conservative 13% annual yield.

Full interior rehab was performed.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

We've had all kinds of mixes -- 1/1 condos, 3/2 condo, 2/2 SFH, and 4/2 SFH, and they've all performed well for us. 

I've read through the General Plan and there is nothing else that broadens or limits this description that I can find.Generally speaking, does this mean that I should have ministerial approval to perform a condo conversion of these already-built-out units in the same sense that I would have ministerial approval to submit plans for a new construction condos if the land were still vacant?