It is a subscription model that allots you a certain amount of texts per month.

Your LP’s will need to be informed they are behind a hard money lender, what those terms are and the risk involved with being behind that hard money lenderDepending on the lender they could require you or one of the LP’s to also personally guarantee the loan.In most states if you have more than one LP then you would need to register the offering with the sec (most likely as an exemption) but docs and setup would probably be $10k.Can it be done yes, is it typically done for a deal under $1-$5M, typically no

I appreciate your input and will make some calls to attorneys over the next few weeks.I also looked at your business model and all very interesting. 

We make all the money in upgrades, so if you are thinking about walking in to a model home and pick all the upgrades they offered, you will get slaughter.

But it was not passive.  3) alternate rent models such as MTR, STR, rent by room, student housing, etc.  

@Drew Sygit  has a very nice description that will hold for basically all markets.. maybe he will see this and post his  ABCD model..

As we say in the sciences, all models are wrong, some are useful.

You may want to check out a few model homes.

Anyone want to meet up for a coffee and tell me how I can improve my IRR model?

Build it into your model of start-up costs, down payment, or other initial costs of the purchase.