He will not be on my payroll.

Austin is a very sophisticated RE Investor market compared to most other places in the Country.

(B) An equity interest or waterfall so they participate in the upside.You're going to have more luck getting what you propose with friends and family because those people (1) like and trust you already and/or (2) want to help you and/or (3) aren't as sophisticated with their money - they don't know as much about available opportunities as experienced 3rd party investors do. 

All these folks who read this dream team stuff are going to learn all this.. then you take a state like Texas were you don't even need licenses.. we got hammered in that state I would NEVER do business there again unless I had my GC on MY payroll and his pay was tied to the work..

Faster implies investment dollars can be redeployed faster which can compound the return.More sophisticated value adds take experience to recognize (or a good teacher).

This fragmentation should provide for the opportunity for well capitalized and sophisticated operators to selectively target individual assets and portfolios at attractive cap rates.

Now that it has established itself as a higher-education social networking platform, I think people will consider Facebook as more of a sophisticated (for lack of a better word) social network compared to MySpace (and heck, maybe even Open Social).

You can continue to participate on the forums, you can continue to participate on our member blogs, you can create a profile and connect with other users . . . these are ALL things that you've been able to do since inception for zero cost and that will certainly continue.That said, as we build more sophisticated tools and features, we can't give them all away.  

But as you get more sophisticated, you can get much more nuanced about it.

Some of the CRMs they use are highly sophisticated.