If, on the other hand, an investment is made available only to a few close friends or associates, and if these investors have significant influence over how the investment is managed, then it is probably not a security.This is why it is an absolute must to have a good attorney draft your agreement and for you to understand it. 

I have seen many a Will tossed out in favor of a earlier Will, even if unsigned, because incapacity or undue influence was proved. 

XD Maybe that was a slow drain idk, and I never read any reports on jobs for Kobe influence start or finish.

But the biggest influence is something that isn’t in your LOI.

I hadn't thought of that, and I wouldn't expect it, but it's a good point to note and perhaps worthy of adding a clause into the agreement/proposal regarding the investors' roles and abilities to influence decisions.

Never allow your personal feelings to influence business decisions.

It is really hard to even get deals from your sphere of influence because there are several other licensees in that sphere.I have never hired anyone so I can't really offer you input there. 

The 2nd lien will not influence the 1st.

I'd like to place extra emphasis on the 45 day time limit - which will be the biggest factor influencing your decision.If you have 285k of equity to play with, you're looking at either buying 1 larger multi-family property or several smaller properties, likely amounting to close to or in excess of $1M worth of property.   

Books/audibles that have helped get the mindset and technicalities at this point are:Long Distance Real Estate Investing by @David Greene How to Win Friends and Influence People 12 Rules to LifeRich Dad Poor Dad Think and Grow Rich [GAME CHANGER]Might I add that I was never much of a reader...?!