The pandemic has wrecked the income of certain assets including hotels, nursing homes and certain retail real estate.This is going to be a very interesting "recovery" as since it is a regulatory inflicted economic decline, so to will recovery and performance be connected.

There are more higher splits with RE Agents than with the MLB's due to the nature of support and regulatory concerns over MLB's.  

FINRA (Financial Industry Regulatory Authority) has some good information on public non-traded REITs.

Plus when there are setbacks with building department on a flip (and there always is) I've had GCs tuck tail and run or try to bang myself or other developers over the head with change orders.

How do you think about regulatory risk?

One bad investment can really setback a portfolio.

When working through the details with an attorney think about 1) Consideration for tax implications, 2) Understanding of legal and regulatory obligations and 3) Preservation of eviction rights.1) Even when compensating with free housing (not sure if that is the recommended approach because of #3 below or perhaps a hybrid of subsidized and monetary compensation as Sue suggested) you will need proper documentation (equivalent comparable market analysis) to be able to report the operating costs for tax reporting purposes.2) There could be legal and regulatory obligations if you are considered an employer3) Just like hiring an employee, there is never a guarantee there is mutual satisfaction.

Furthermore the city will not allow the separation as it would not meet their size and setback requirements.

In the parlance of business, I'd say Colorado Springs provides an "uncertain regulatory environment" when it comes to Airbnb and other short-term rentals. 

@Wes Stange not only are the prices in Seattle proper intimidating, but so is the regulatory environment.