I decided to dig further into this, as I could smell a rat a mile away!

Even single tenant can be NNN.Yes the owner would need to bill the tenant for pro-rata share of taxes and insurance.

Study the language in the operating agreement very carefully because waterfall terms in operating agreements can be confusing and it isn't difficult for sponsors to hide onerous terms among the fluff.The way the waterfall calculations should work is that you receive 100% of all distributable cash (divided among you and the other investors pro-rata) until you reach the preferred return hurdle. 

Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Roth 401k Unlike a Roth IRA, withdrawals from a Roth 401k account must take a pro-rata share of basis and gain (i.e. you can't just take out the basis) and any non-qualifed Roth 401k distribution will subject the gain to taxes and possibly penalties.While matching contributions are certainly pre-tax, if the plan allows for in-plan Roth conversions such amounts could be converted to a Roth sub-account which would be both taxable and reportable on a 1099-R.

Keep in mind, these tenants are small in size in the grand scheme of things, with each having a 2% pro rata share of square footage.Is there anything I am overlooking here?

Structure some sort of personal guarantee with security that should he fail to fulfill the term of the lease the commission payable back to me on a pro-rata basis?

One note on snow removal, the tenants in this center pay for their pro-rata share.

An SDIRA would pay tax on a pro-rata percent of the profits.It’s easy to confuse UBTI with UDFI. 2) Any husband and wife, self-employed or not, can open an SD401k.

If the above is true, then I say refund the pro rata portion from the 5th through the 15th.

In my experience pro-rata cancellation isn't available in the first year unless the value is very large.