:when I first started researching investing in syndications, one of the first web pages I found was this:http://www.nasaa.org/22284/informed-investor-alert-private-placement-offerings/ Private Placements and the Risk of FraudEntities raising capital through private placements often have a limited operating history and typically have more modest revenue streams than larger companies.Because private placement offerings made in reliance on Rule 506 of Regulation D are not reviewed by regulators, they have become a haven for fraud.According to the most recent enforcement statistics from the North American Securities Administrators Association, private placement offerings are the most frequent source of enforcement cases conducted by state securities regulators.there are many reasons for this.. as you stated there are regulations but the sponsor is on the honor system and when it turtles up that's when they get hammered and its not pretty and the investor usually take a huge loss.. 

Can you swing a hammer??

Money Moustache ( a financial blogger) and the sledgehammer he takes to the financial media that you need 3Million dollars to retire,etc...  

It looks like the Fountain Square neighborhood of Indianapolis is about to get national attention via Two Chicks and a Hammer and HGTV. 

So, sit down with a CPA and a RE Estate Attorney with your Father and hammer it out. 

Contractor financing was hammered under D-F, not allowed but under certain conditions or limitations, I didn't research the exceptions but noted the limitation or elimination.

We ended up finding an old copper line that had been partially capped off with a piece of copper pipe cut in half and hammered flat.

@Jonathan DuarteI am not a tax expert but I am going to surmise from a blog (Click this link here:https://www.biggerpockets.com/renewsblog/forget-brrrr-try-barrrr/) that @Brandon Hall posted, you are better off setting up an LLC before you lift a hammer.

I want to focus on growing the business instead of swinging a hammer. 

These sort of things are a lot easier to hammer out by being discussed.