Is this correct?

Asking in the correct forum will get a better response.Need a spreadsheet or form?

You are planning on buying cash flowing properties correct? 

Asking in the correct forum will get a better response.Need a spreadsheet or form?

Second, the investment may have been made anticipating a chance of failure; for example an investment may correctly analyze that it has a 50% chance of a 25% ROI, a 35% chance of a 50% ROI, and a 15% chance of a 50% loss.  

That part is not as straight-forward.Such operating agreements are frankly costly when done correctly.

If I understand correctly you'd be purchasing the land, and improving it and splitting it into the appropriate "buildable lots". 

For example, failing to file a Business of Information (BOI) report correctly can result in penalties of $500 per day or even up to one year in jail if the filing is late.2.LegalZoom or Similar Services:LegalZoom can help create an LLC for about $600.

q=is+bitcoin+traceab...That's not correct.  

But, he has no ability to take any corrective action he feels is necessary or beneficial.