How much gross leasable area, how many offices, current vacancy rate, age of building, any proximity to hospital or surgical center, what type of loan product for first lien, variable rate/fixed rate, the terms etc ie SOFR + what spread etc, current NOI, cost per square foot, replacement cost per sq ft, and any and all details you can share, I assume HENRY Capital compensation will be similar to your Fund 1, with 8% preferred and 80/20 split? 

Dave may have become a victim of circumstance, but it was a circumstance he put himself into.

Issues like this can take a while to sort out depending on if they can determine where/when the error happened and if there is any party or title insurance who will compensate someone for the error.

@Jade SmithIf you are managing for compensation and for another, you need a CA broker license: CA B&P 10131I don't see anything in there about the length of stay. 

Disqualified persons include your fiduciary and members of your family (spouse, ancestor, lineal descendant, and any spouse of a lineal descendant).The following are examples of prohibited transactions with a traditional IRA:Borrowing money from it.Selling property to it.Receiving unreasonable compensation for managing it.Using it as security for a loan.Buying property for personal use (present or future) with IRA funds.

s point, understand the alignment of interest created by compensation.

The State exceptions for unlicensed finders apply to them as a whole, the additional guidance is to licensed individuals as to how they can compensate them legally.

If you are looking to wholesale yourself, there are barriers to doing it with a license as the brokerage must be compensated on all deals involving real estate per your license.

For easier compensation!

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.