Hey Michael, My understanding is in a preferred equity syndication, utilizing qualified funds such as those from an IRA or 401(k) can trigger Unrelated Business Income Tax (UBIT) when the investment generates Unrelated Debt-Financed Income (UDFI).

The seller actually paid less in fees to sell the property off-market. (6% of $2.8 million would be $168k) He also got a quick and easy sale, and the buyer locked in a solid discount on the deal as it had recently appraised at $3.75 million What was the outcome?

I’m not sure when to decide that I “know enough” to make this kind of investment, or if I should continue educating myself before pulling the trigger on a property. 

I still have the 20% discount on paint (thanks to the agreement: "BIGGER"), but am locked out of Elite. 

Possibly locks, ensuring all the windows are closed, putting up no trespassing signs.

I would recommend you shop around, but since rates have skyrocketed the past 3 weeks, you are unlikely to find a better deal than what you locked your rate at in with your current lender. 

I am replacing the balances and pivot shoe locks. 

So you need to lock in Low rent at or under $12/sq foot if you want to survive in the coin laundry world.

However, no-one will finance this until the lease is locked in place. 

They will have those assets locked down so you can’t use them for about 2 years until you can get an appraisal to release them with your new equity.I would stay away from relatives funding.