Assuming this is in fact a good deal, and your friend is a qualified GC, instead of trying to be the lead investor, he should be searching for someone who has the balance sheet to take down this deal on their and be a transactional participant.

It's not $20,000.00 And to get Certified you had to participate in an actual 4 day class.

Long term vision can trump current cash flow.So I will proudly take the label of property hoarder.

I proudly call myself a 'deal killer,' and I say that with no hesitation.

Substantially all participation.3.

Now he needs to participate in the payout to investors who lost money when the properties they bought through GEG were never renovated, even after they paid for those renovations.I will be contacting the SEC and FTC so they can take care of it.

Our volunteer fire department invites surrounding departments to participate.

You'll want to be clear on the IRS rule for material participation if you do decided to switch to property manager. 

We took them to arbitration, but they did not participate and we found out they closed their offices and I believe the owners are no longer residing in Florida.

I suspect without money and active participation as LP, you cannot legally do what you suggest.Have you seen the underwriting?