I am sure the market in Anchorage and Alaska operates very differently from many of the other states.Who is holding your loan now??

Get your operation off "stuck!"

Your plan to publicly solicit funds in that manner is a violation of SEC regulations,even if others have done it, and as to Will's web site, he is not being specific about any particular loan and I believe he has a license for his lending operations.

$870 x 12 = $10,440 This is your annual NOI (presuming you are right and the operating costs do not exceed 50%).

Appraisers all operate differently and the next guy/gal might not ask for permits at all.

You do not want to pay a 30x multiple for the land underneath it.

Write up a joint venture agreement or if LLC's are cheap in your state, set up a partnership LLC detailing in the operating agreement how the funding and payments will work.

Easy to administer and operate.

Another way is to split membership within the operating agreement with different classes of members, that will keep them in a passive situation as well.

They usually do not make money until they understand their clients and property operational issues.Definitely ask for references and take the time to check them out.