We had a large portfolio and have sold a lot of it.

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

Emphasize privacy, entertaining opportunities, and flexibility for hosting large family gatherings.

A Community, large network nationwide of people who have been in the business (some for decades), still do the business, and the ability to leverage a very very large and growing 'brain trust' that is unavailable by just finding an individual mentor, or forum.

As investors and yes friends of mine grow their business into very  large commercial properties.

If you will be a large equity partner or if you hold the experience to do the deal, the lender will likely want you on as a guarantor.

For such a large project, you have to find both.

It would not be a terribly profitable industry, and a few large players (hopefully including my NewCo) would dominate the space.

I am very big on building equity, largely due to my career situation.

I have a background working with banks, hedge funds and large infrastructure developers, and have been told my sales and negotiation skills could be leveraged in real estate, particularly in wholesaling.