When I have stayed in AirBnB where they have me sign stuff usually it's auto messages that are sent out.

It's harder to find turn key stuff that makes sense with these higher interest rates so I started to build my own. 

:-)The trade exam contained a set of plans and an architectural scale, the law exam was just memorizing stuff.

I want to see them putting their own capital, earned from stuff outside of the acquisition fee (sometimes, sponsors will buy $100M in real estate, earn a $2.5M acquisition fee, "invest" this acquisition fee alongside LPs, and claim that this is a co-investment.

If it' s in a historic neighborhood you have to be careful if you start ripping stuff out. 

In calculating the Net Present Value of the investment, what is the appropriate methodology to use in arriving at a discount rate?

thats a great outcome.. and back to what I always say this stuff is state specific. did you also have to put the agreed amount of the purchase price into escrow on the closing date or could you just hold your money and prosecute the action ?

All this stuff is very tricky.

They definitely know their stuff and seem like they set up a bullet proof structure.

All of that stuff sounds fun but also incredibly time and capital intensive.