At a minimum, it should start raise eyebrows that there are no set standards of effectiveness...no lessons learned that have been captured...from the thousands of existing HOAs that can be quite powerful in an individual's ability to own and use land.It's more of a curiousity.

Will that affect my ability to get a mortgage?

The ability to set your own schedule and not have to answer to anyone is worth the risks of venturing out.

next thing you know you have your card maxed and cant pay off the balance an the interest and late fees kick in and you start robbin peter to pay paul, it's a vicious cycle...TRUST ME I know ...I filed chaper 7 bankruptcy in 2003also dont be late on your payment, that will KILL your credit score in a hurry and 1 good doesnt make up for 1 bad on a credit score....it will take alot of good remarks to make up for your one bad. heres a nifty little trick to borrow money, build credit AND make some money too....this wasnt my idea but another forum member on a credit forum.

I do want the ability to segregate the access so co-investors can see only those properties where they have a slice of the deal.

I plan to charge him little or no cash in the referral, in exchange for the ability to shadow him on the deal.

Financing- Hard money- Private lending- Sub2- REOs- How does my choice in business entity impact my ability to obtain financing?

The capitalist market is remarkably efficient in correcting pricing errors (outside of a monopoly, that is).If no one is willing to purchase that property for $250,000, it won't sell for that price.

You'll be a millionaire and have the ability to make millions upon millions more.So just do a deal to get the experience from it.

It does not exclude one's ability to do a DCF analysis.I think all of the posters here agree that one needs to do proper due diligence on any investment and do a financial analysis if the numbers are not obvious.Interestingly, although I am a big proponent of discounted cash flow modeling, Warren Buffett does not do all that stuff.