Seems like they are running a Pawn Shop, homeowners in Austin/Miami/Tampa etc who need cash bad sell a "HomeShare", percentage of their equity in their home for a discount, with a term of 10 yrs, if the homes go up in value as they have since 2011/2012 then NADA gets the original equity already at a premium price plus any appreciation for the total percentage they bought from the homeowner, but since Austin now down 20% in last 12 months and other hot home markets may also continue to fall, and NADA does not engage in price discovery (ie shopping for best value) as they want to obtain a "Market Value - ETF like" of the cities they invest in.

If a partnership turns into a single member LLC due to a partner leaving, a new EIN is required but how would a business still keep the branding of their original name if creating an EIN requires a different name?

I am a realtor, so I estimated sales fees to be around 5%, so netting 3.6M. 

Moving forward you might want to buy new properties in an LLC but for the original ones I don’t think you need to go crazy making changes other than making sure you’re protected well with insurance.

My Dad is a contractor who has built multi-family properties for other people in the past, but he hasnt built anything for himself or smaller than 20 unitsI have been suggesting the idea of building a 4plex to him for the past few months and we each forgo our fees and split the profits of the dealI'm curious as to what your numbers were like on a btr 4plex, such as the land cost and the construction cost at the time you built it?

Originally posted by @Amy Hu:My husband is working full time.

Sounds like they make money in some other ways like origination fees or taking equity from short sales but I doubt that happens often. 

Yes, the worst agents will be advertising some low fees on their end. 

Then sell property, record sale price and fees you paid.  

You could do 50% loan / 40% carry / 10% down (+ fees/closing costs).