And you’ll discover the powerful concept of having an “air game” in addition to your “ground game”—and how understanding the distinction can make you wealthier than you have ever dreamed.

Thanks @John Barrows for the distinction, as Tom mentioned above..the title/escrow company are the same, but your point is well taken.

This involves: Providing capital in a timely manner for pre-approved deals.Ownership is allocated in the following way: The asset manager owns 20% of each property.The other 80% is owned by those who provide the financing for the deal, with no distinction between leverage and cash.Partner’s percentage of interest in the company is the net percentage of capital contributed across all properties, multiplied by 0.80.When new assets are added to the company, percentage of ownership is recalculated.If cash infusions are required for major improvements not covered by reserves, we recalculate percentage.Distributions are paid quarterly based on profits, on the 1st of the month, based on a percentage of ownership.Now here comes the question: If I cash-out refi the property, is that my capital contribution, or his?

It will be pricey and I don't know that it will have a distinct (measurable) impact on the rents.  

The costs can be high especially if you are using a full service management company, and while changing, the Tahoe area still has two distinct busy seasons, meaning 2-4 months of slow time where you may not cash flow.

My wife and I worked our tails off for many years and sacrificed on many things and I can distinctly remember thinking at times if it was all worth it.

I admittedly have a distinct bias against wholesaling, so I would first suggest if you do go that route you do a lot of advance homework and due diligence before embarking on that niche.  

The distinction I usually make is that a structure that has zero shared walls is detached, a structure that has one shared wall is SFR Attached, and a structure with two or more shared walls is considered a condo.

In an equity investment, those remedies aren't as available if you follow the regulations, thus the distinction. 

Could be a purveyor of 'dangerous breed' dogs, trying to drum up sales of guard dogs Or a security company trying to sell alarms Or kids pranking In any case, I'm sure we can all make a strong distinction between simple trespassing/banana theft and B&E in the middle of the night.