- When we distribute cashflows or sell the property, can we distribute the gains appropriately across the 4 owners?

He has a reason for doing what he chooses to do, it isn't appropriate for me to divulge his personal life.

If the IRA were to joint venture on a deal with someone who is not a disqualified party, the IRA would receive its overall percentage of income, costs and taxation and the partner would separately have their own portion they would treat appropriately - whether also in an IRA or personal.  

It is certainly not appropriate for everyone.

Notify them every month if they are under or over budget so that they are encouraged to get a check come spring or whenever you deem appropriate.

Give them your forwarding address, and if they don't return it within the appropriate timeframe, then you send a demand letter and consider filing in small claims.

Hi BJ,I haven't done a deal like this, so take this appropriate skepticism. 

I think there can be good intent/justification for sharing, and I also think there can be motives that are not worthy of oneself.For one, I think an intent/motive for sharing that is negative, is to feed one's ego.However, there's a fine line between that and the below: I think using outcomes to establish credibility can be appropriate, as well. 

However, if you're willing to hold the property for a while before selling then you have a much stronger case to show that your intent was to hold for productive use and a 1031 would be appropriate.

Legal entities aren't a fool proof way to protect your personal assets.Always carry appropriate and adequate insurance.