Quote from @Brandon Croucier: Quote from @Chris Seveney: They are more than a one man show - they are doing $10-12MM a year in lending (also have other parts of business) and have the people and systems in place includin g all above except the deal flow.How does one profitably run a PML company with numerous people only funding 10-12M a year?

Some hotels actually have a condo like structure, where people can own the units, but perhaps are limited on their personal use to only a certain amount of the year - the rest of the year it is in the rental pool managed by the hotel.If numerous room owners stopped paying their bills, you could get tax liens on numerous separately owned units.Hotels are a tough business, an issue I also see come up with them often is that they require refreshes, expensive and relatively often - at least once every 10 years, if not more often. 

If they do it outside and do it recreationally and not in absurd quantities, it will air out in minutes. 

Class A apartments have numerous amenities, professional management, and sit in desirable neighborhoods.

Quality over quantity. that would be an interesting exercise for BP super computer who has the most votes to post ratio I bet Mike D is right at the top.. then on the inverse you would have the least votes for the most posts those would be those folks that just post the same thing over and over I suspect.

@Stefano Mitrano I have seen numerous banks reacting if an asset is being transferred into an LLC.

Known  Potential Black Swan events, numerous.  

The investor “gave up” after numerous attempts to sell the lot or get a “refund” from the county proved unsuccessful.  

Obtaining the type/quantity of land we would like to settle on at this point in our lives is not really feasible (i.e. several thousand acre cattle ranch).

There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.