I always wanted to invest in real estate because I grew up with the concept of "people always need a place to stay".

A debt deal with added downside, that is.I'm not sure I understand the concept of the sponsor retaining 80% ownership if the investors are contributing 100% of the capital.  

The real estate is effectively inventory in a sales business, just like refrigerators or stereos.Passive sources of income such as interest (i.e. hard money lending), rents from real property, dividends and royalties are not subject to UBIT.This concept is documented in IRS publication 598.The ROBS program is an entirely different structure as compared to a self directed IRA.  

Welcome to BP @Edward Mack!

It seems that some brokerages push the team concept more than others.

First, he doesn't even know how to spell principal (so probably doesn't understand the concept). 

Synonymous to broker or middleman, this concept is prevalent throughout many facets of business.

I still work under that concept, do this and you are safely investing.

(This concept of replacement cost)  On a unit with an ARV of something around 400k, why is replacement cost 1M?  

How many properties did it take for you to feel like you had a stable understanding of the concepts involved.