As far as I know, in CA, there is no distinction between borrowers, when it comes to usury law. 10% is the limit, no matter who lends to whom (if none lic. lender and no broker involved).

In most jurisdictions, there is a legal distinction between a boarder/roomer and a tenant and quite often different rights and obligation on part of both the boarder/tenant and landlord.

Thanks for the distinction!

He understands my motivation and stated it in a very clear and distinct way.I can only say that BP has been a wonderful forum for me personally, and provided me the motivation to pursue my passion. 

I think that's an important distinction in Airbnb laws because they could always change that.

The benefits of these assets are derived from four distinct components:C= Cash Return  (you may see this called Cash-on-Cash return)A= Appreciation (in linear real estate markets there is slow steady growth of asset value)P=Principal paydown (tenants rent checks pay down the mortgage monthly)T= Tax Benefits  (if your syndicator uses a cost seg study and an accelerated depreciation schedule your returns may be completely offset by K-1 depreciation you will receive for the first 7-8 years...tax free money)Every commercial MF asset is different.

Then you have two more distinct regions.

There is a major distinction.

that is a big distinction  and if he is.. then yes I would think you would need some disclosures..

Depending on the seller you could be at a distinct disadvantage compared to cash buyers if you are trying to bring financing up front.