New tenant must go through complete vetting, sign the lease, pay security deposit and rent, and move in, prior to the referring tenant getting their $100.

If you are a newbie or old timer who is really struggling to break through in this business, what do you think is the reason so many don't make it?

Quote from @Patrick Osterling: Hi Dan, sorry you're going through this.

Many investors will 1031 exchange into another property and list DSTs as a back up on the 45 identification form incase the property falls through. 

I’m currently going through the process of getting a HELOC and feel confident we’d be able to fund a purchase using that but using PML has ultimately been a goal of mine and would like to incorporate it into one of these purchases if possible. 

I assume this income/loss is passed onto your personal return through a K-1 and the business files a 1120? 

Obviously, they have no intention of following the law & I wouldn't count on them to adhere to your lease provisions, either.Don't get me wrong - I love dogs & my pit (who went through the big doggie door in the sky many years ago) was the best dog, ever!

You should connect with a lender like @Jose Valdovinos who might be able to help you sort through this.

@Robert QuirozI had purchased a number of duplexes and triplexes through the years.

I invest in Richmond as well, through house-hacking and BRRRRs primarily!