Do that once, and then be a fundraiser for their next deal. 

A fair amount of the work is handled by a consultant as is it more important for me to work on the fund raise structures and that end of the business.

It included items such as fund raising and various options and associated limitations of the options.  

pg 10"From the Fund’s inception in or around February 2018, the Defendants, both individually and through project managers at NRIA, represented to investors and prospective investors that NRIA was a solvent, profitable business that generated significant cash flow, separate and apart from investor fundraising.

Their financials are fine and they've never had any trouble carrying the mortgage but, as missionaries, they do fundraise their salary so I think that's where the bank is getting stuck. 

With all your fundraisers I guess there's never a reason to turn down money.

With everything getting more expensive, the cost to put together a fundraise will be $10-$20k and if you do not have friends and family you will spend another $10-$20k to market it.

I haven't done cold calling since I was a 19 year old alumni fundraiser, I bought most of my portfolio via sheriff sales and REO auctions, a couple on the MLS and a few through community word of mouth (before everyone and their dad was a wholesaler) . 

lots of good threads at the syndicator and fundraiser review thread      would check out the https://www.biggerpockets.com/forums/-syndicator-and-fundrai...but try to find a syndicator with experience, >20yr so has been through down-cycles, and also one that puts a lot of their own equity into each project, so their interests are aligned with the limited partners , from my research, there are a lot of syndicators whose fee structure tends to incentivize too much risk taking.

For the #1 contributor to the Syndication and Fundraising space to post- "Anyone considering sending money to a syndicator should have their head examined by a medical doctor for signs of life.And then go on to attack a real investor over a misspelling on his website?