Most nationwide QIs have attornies and accountans as principals. 

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)  

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

Sometimes it might make sense to just pay the penalties and walk away, but while $1.5 million isn't chicken feed it isn't "live off the principal till I die" either.

I hear ya but you need appreciation to offset the massive amount of rehab you have to do on a house thats been used as a rental over the years .. if it does not go up your going to lose principal and cut into cash flow.. got to have both to have a good IRR bottom line.. unless you Never ever sell which is quite rare actually. 

I know a principal at a syndication with over $2B in assets.

While it may only cash flow a set amount each month, don't forget that the principal on your mortgage is also being paid down and (in the long term) the value of the complex is going up.Are you able to invest that money elsewhere (factoring in cap gains or 1031) and do better?

NOTE; This is skewed as I don’t look at any notes that won’t yield at least 12% at offered pricing, I don’t look at any residential notes, only commercial, and no notes under $500,000 principal balance, so most notes are eliminated before hand. 

The big secret that the guru types don't like to talk about is that people almost always get rich in real estate through equity (buying w/equity, appreciation and principal pay down).