This, coupled with a reduction on the price of the property given to us by the seller and the passage of about a year leaves us with needing only a few hundred thousand dollars when we finally closed a few months ago.Being left with over $2M on the loan, we've been making rather large payments to get rid of the amount in excess of what we need.

It's like a right of passage that continues to creep up from time to time even though most of learn that it's better to hire experts.Why do we do that?

Measure your own blinds, count up your privacy/passage, your knobs/pulls for cabinets, toilets, main ceiling (is it a flush or a drop down?

This passage is magnificent JScott!

A sophisticated investor is someone the issuer/sponsor (the person organizing the syndication) believes is knowledgeable and experienced with financial and business matters, but is not accredited.With the passage of the JOBS Act in 2012 and the creation of several new “crowdfunding” exemptions, non-accredited investors (i.e. everyone else) can now invest in certain syndications.

Although the interest on borrowed money is still tax-deductible even after the passage of the Tax Cuts and Jobs Act, it is not a 100% deduction.

On a positive note, Passage Peak says they can board and service the loan in its current condition.  

I found the above passage on WikipediaSomeone who forwards a list that has been forwarded to them is not a wholesaler, they are a Jackass.

From online passage:"If the property in the syndication was held for at least a year, the gain will be treated as long term capital gain subject to 15%/20% capital gains rate.

Disregarding appreciation due to time passage, the CAP rate moving from 5% to 7% is going to bring the property valuation down by ~29%, unless of course one manages to increase the NOI.