Maintaining your own staff means you have to carry workmens comp insurance,  have payroll taxes, and payroll accounting to do (or outsource). 

The structure varies substantially based on project type, investor sophistication, and overall business plan.Do you plan to collect fees?

I don't need the payroll or any other fancy features of QB, I barely use the "financial management" features of Quicken, it's just a ledger.

I'm curious to see if anyone else has had the same experience.Member Blog- How to Raise $1.5 Million DollarsIn my experience, most accredited investors are not sophisticated investors.  

-I like your waterfall, but it may be too complicated if your investors are not sophisticated or accredited.

I see Open Door as a very sophisticated wholesaler.  

A general business attorney or asset protection attorney can put together a Partnership for you, a more sophisticated attorney is needed for SEC compliance.

Some only accept accredited investors some also accept non-accredited but sophisticated investors for their deals.

The previous owner was not is the sophisticated at all, so I'm sure I can figure it out.

You can get very sophisticated with IRR calculations, but it comes down to the simple fact that the cash flow alone will not generate enough money for capex - which by the way is not a percentage of rent; the two have an inverse correlation.