But given the state the areas are in its increasingly difficult so I'm biding my time.In the mean time I wanted to start STR arbritage, at the same time I will still be trying to own a property, but I want to be proactive rather than wait for the bidding wars to calm down or find a gold egg in a ..haystack?

calm down you will get your money and no one is going to pay your interest. 

You're essentially buying into a partnership with your friend with the partnership owning and operating the property.Now, the financial side of that gets more complicated and would generally include an advanced proforma/financial model that includes a GP/LP equity waterfall schedule that is based on how you and your friend agree that you will pay her and also share the profits.I assume that won't make sense to you right now, but I'll send you a DM.

They told you they would offer you some discounts and let you join the online group which they created on the last day.If the program does worth it, what you will lose is only 299$ that you pay for the 3 days event because you can always attend the event again and pay 299$ to get the discount. ( I believe you won't do it after you calm down and see the BiggerPockets website.)

I believe the sponsor still is on social media going about their day to day My Guess Chris is after all the blustering and threatening this calmed down and if litigation has started its in Ca so we can check back in about 18 months to 24 months from now to see what if anything happens..

GP make bit of money from waterfall that makes them can get some moneys LOLIt is like what our friend says, all the risk goes to LP, with minimum risk to the GP after the goverment intentionally trying to screw the economy LOLActually it get's even "darker" then that.

This sounds like a GP/LP Waterfall deal where there's a 16% pref and the LP (you) get 30% of the profits after refinance.

@Tyler Jahnke  while I appreciate your calm demeanor through this whole debacle.and I understand you only invested 50k or less which you also point out was a majority of your cash.there are others who have done 4 and 5 times that or 10 times in one case and their lives are in turmoil.. everyone is different in how they handle this stuff.. some people would completely fall apart if they lost 40 or 50k.. of course your not a total loss until you try to sell there is some value there. not what you paid for it but some value..I think the issue is all those that trusted Morris and its now come out that is was just misrepresentation at the least and gross negligence at the worst or even the F word.. or P wordit is amazing to see how each of your folks that fell for this react though..

These often include a preferred return for the investors and then a pre-determined cash flow distribution schedule between the sponsor and investors that includes the cash flow distribution waterfall based on either the IRR or EMx and possibly a GP Promote. 

See how he responds.I’d definitely keep calm but assertive.