That is precisely where you’re wrong.

He may get stuck with rent control laws that prevent him from catching up later. 

@Matthew HoldenDo you have checkbook control or full custodial SDIRA?   

So although you have HOA dues, sometimes it isn't enough and you don't have control over that cost (if it goes up, special assessments, etc.).2.

Offer the design team a piece of the equity OR pay a premium as incentive to keep to an established timeline (that is within their control). 

I'm a partner at Launch Control and a former Batch user.

2) How often do you do pest control treatments?

For existing companies, individuals who own at least 25% of the entity or exercise substantial control over it must submit BOIR to the Financial Crimes Enforcement Network (FinCEN) by December 31, 2024.

If so, consider that with a stock you have NO CONTROL whereas with your rentals you have quite a bit of control over how the business is run and how successful it is.

Do you feel this is controllable or that it's mostly up to chance who succeeds and who fails?