It will kind of open your mind to all the ways a company can be structured, and all the fail safes a contract needs.

@Roger GelpeyMy understanding is no as it has to be like kind.

Building is new and in the makings.I kindly request all of the information you can share about this topic of investment and return.  

Building is new and in the makings.I kindly request all of the information you can share about this topic of investment and return.  

take a glance a @J Scott 's take on it http://www.123flip.com/new-construction-costs/ it has a simple break down of the most common expenses. 

However, they say because there are tenants/occupants there no one can view it.What kind of craziness is that? 

I feel I should make some kind of move, I've always wanted to invest but after I lost my first home in '09 due to the crash I backed off.

Leads are not going to fall out of the sky either, so your number one focus will always be lead generation if you plan to make any kind of money.There are enough books and podcasts out there to learn the industry without being an agent and it is much more time and cost-effective than being an agent.

Wanted to make sure that would be a good strategy for this kind of business  as well.

Even if you form your entity out of state, you will pay CA taxes if you are managing from CA, which equates to "doing business" in CA.Depending on what kinds of activities you envision doing with your group, you should speak with an attorney for the right type of entity.