At first I looked at this as possibly just a failed investment where millions of unaccredited investors lost money (still very bad for everyone involved), but after learning about the involvement of Ronald Fossum that has a convicted history of defrauding investors and the fact that Norada is still raising money from investors, my mind now goes immediately to possible Ponzi Scheme paying past investors current funds being raised.

I'm doing more research because I do not understand how the SEC or Licensing bureaus are also not involved.

I have never heard of any NAR agreement for agents to be involved with notes, that is far from the truth.

I also got involved with a builder in Florida who has yet to produce the first of three houses they're contracted to build, which was a major hit to my available funds as well, setting me further behind.I also figured if I fell a little behind in saving (18 months instead of 12 months for example), I'd still be making progress.

It would be a direct sale with no brokers involved. 

Although the cleaner is probably the most important piece to the puzzle for your STR success, there is alot more involved with managing it.

Out of state investing involves too many moving parts.

The primary form of diligence we see on the forums is "what do you think of XYZ sponsor and deal" whereas the common form of diligence in the space by institutional investors, large investment groups, family offices, and sophisticated investors involves following the sponsor for years, underwriting the deals, validating rent comps, background checks on the general partners, and a host of other diligence that materially de-risks the investments.  

My goal is to understand the current demand and rental potential for ADUs in this part of the city, as well as the costs involved in building.

In the cities the government got involved in housing and low income housing was built for poor people.