It’s being brought at 29m. 

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

.- Book Recommendation: Bubble in the Sun: The Florida Boom of the 1920s and How It Brought on the Great Depression.

I had a old house (1940s construction) that the buyer brought in a friend who was "a structural engineer".

They brought in awful tenants that turned our property into a party house and caused thousands in damages.

Loan is brought to us to consider funding and we determine that risk/return parameters are acceptable3.

@Michael Belz Photos are the only marketing you have when it comes to Airbnb... we onboarded 3 large homes in upstate NY 1.5 years ago, we brought in models, candles, throws, extra decor and the properties are beating their comps who had nice quality but un-staged photos by around 18%.  

Since you can't escape CA LLC registration, if the property is based here, and if you are a resident here, may make sense just to form a CA LLC and simplify your life and your costs.Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

So, if a “typical” transaction would require 20% down payment to go along with an 80% institutional loan, then if I brought in a couple of investors who funded 10% each and I as “sponsor” received a 33% ownership interest as “promote”, I would have used OPM for that 20% down payment. 

I've brought them that.