I've seen soo many statistics, so many data, so many non-public information where the situation at CRE is much worse than 2008, in 2023.You can't imagine class A San Fran office is valued at below $200 PSF , in Portland even it's less than $70 PSF.

@Joe S.I would say BP does a good job as well as its membersFor example when peerstreet went under people were on BP blasting them because “they did not know” they invested in unsecured debt because they noted they invested in secured loansBut if you read the literature it was clear the investors were unsecured even though the company invested in secured loans (which this structure is not uncommon) - they were called out for this.There are components related to communication that cannot be verified unless posted but most documents and property transfers (like the one I assume is referenced in the start of this post) cannot be disputed.

This was back in late 2022 and I think it was new for them at the time so I imagine they still do it.  

Awe, a handbook should be the simple version of rental law, imagine what the code reads like.  74 pages of insanity.

With that said, I would imagine there would still be some form of shielding from your personal assets but whether or not this set up makes you an easier target is an interesting question. 

Could you imagine the hell that would wreak on international markets!

I've been doing this since the 70s and I've had every loan you can imagine. 

I couldn’t imagine a bookkeeper doing it for $50/mo and I couldn’t imagine paying $50.

imagine the same scenario but your friend is a single investor and you’re a married owner occupant. 

I imagine you may be in for a surprise here in IL with how real estate is transacted.