If they were an employee of yours or a member of your team in a different business, would you dock their payroll if they made any mistake for you in their day-to-day job?  

The more experience you get the more sophisticated you can get in your approach to investing. 

Since they are 1099 independent contractors, payroll taxes are not paid by the brokerage so agents have to pay about 20-30% out of the portion of the commission they get to Uncle Sam for income taxes, depending on their tax bracket and individual tax situation of course.

We pay them back at close.For people/teams that do something similar, I'm curious what software you use or spreadsheets you've created to: Track cash current cash flow and projected cash flow for the whole business that including fixed costs like payroll and variable costs as well. 

Syndicators do this because most passive investors are not sophisticated enough to realize the "security" of the preferred return means they usually are giving up the potential for massive returns if the deal does well.This next comment would apply for all syndication.  

However, the people who use rules of thumb don't have sophisticated software that can analyze deeply thousands of potential deals every day!

When did you change from your initial project management tool for 2-3 properties to something more sophisticated for managing 4-10 projects at once.Greatly appreciate everyone's thoughts and contributions!

Please consider this if you move forward.Additionally, you need to have a broker on payroll in illinois and three separate bank accounts with the security deposit trust account located in illinois.

Let me ask you this question, could you pick any of the following walking down the street:Andrew Florance, Carrie Wheeler, Bruce Flatt, Robert Reffkin, David Nunes...Put it this way, if you cannot afford a full-time attorney on your payroll, you do not need to have a complex legal structure. 

Right now, I am curious about, but not anything close to sophisticated on, office, especially in the suburbs of Denver where I live.