Hi Mike,You're not going to learn as much as you need to know about this through forum questions.It's a fairly large body of knowledge, and it's a key component of the deal.But to get you started on this, you can research "key principle" + Fannie Mae.To answer your question, the debt will most likely be non-recourse except under certain circumstances where it will not be to the syndicator.They don't hand these loans out like consumer loans though, you need to have a certain net worth and experience requirement or partner with someone who does that will be actively running the investment with you. 

(Bodie is an interesting ghost town near Bridgeport, but im uncertain if the road there is open in the winter months) I believe most ski shops in the area will sell discounted lift tickets to any of the ski resorts, so you could try Shoreline, Rip n Willies, Powderhouse, The Ski Renter.

@Michael Fleet Sent via PM

I would ask whatever state governing body Nevada Realtors report to (analogous to CA's DRE), or a NV Real Estate attorney.

Any body here rehabbing in Brevard County Fl, was visiting area in quest of seeking permanent residence, looked at four homes with local realtor last week. just looking for some input on the area. the area looks clean, beaches are great, Orlando only 45 Minutes away. please let me know if you are working the area and if you are able to sell in a reasonable time frame in this market.

I'd suggest calling your state's financial institution governing body to confirm usury laws, etc.

Any body have a recommendation on an inspector for a 56 unit building in Warner Robins, Ga?

Understand that the proximety to a body of water has nothing to do with flooding, it's the terrain features and elevation as Jon pointed out, there are flood areas in Kansas!

There's a huge body of law on this and I don't know Ohio law (I presume that's where you're buying since I recall that's where you invest), but most likely the more specific, remedies provision is enforceable.

Find some body who is in the trenches doing it and not printing books talking about it.