That doesn't mean he shouldn't have revealed the tax issues etc. to you in advance but I have known people who have had major tax issues who were surprised in that fashion when they didn't think it was an issue any longer.

I grew up in a family of landlords, and with my rental business have done things in a similar fashion like they all did - where we manage the properties ourselves, market, and meet the tenants at the house.  

Good old fashioned driving for dollars works well in a competitive market.  

I see a lot of promising hotel / motels in Green Bay that would likely do really well if they had money for improvements or digital marketing upgrades.Wondering if anyone has any experience investing / partnering in hotels in this fashion where you take a % of revenue. 

Most "consulting agreements" are fashioned after those that can be lawfully used receive compensation for referring "institutional investors" - but are not applicable to those who refer individuals to others' syndicates.

I'm sure I can trace back well over $100 million of capital to BP in some fashion. 

Most of my houses are 'distressed' in some fashion and this one was no exception.

An IRA may not transact with the account holder in any direct or indirect fashion.  

Usually a heloc operates on Prime + .00 - 1.99% depending on how high in loan to value you went up to on your home (70, 80, 90, 95% LTV) etc since the higher the loan the higher the risk so as always the rate follows that risk upwards.If you pay significantly more than your monthly HELOC payment like 5-10X you can pay off your mortgage in accelerated fashion by using a first position HELOC.

Then, once I hit that point (but not sooner), I would pay them all off aggressively one by one in snowball fashion starting with the highest interest rate ... once paid off, you are done ever having to worry about money again.