They will conduct their own through due diligence.

If it was me, I’d accept the offer and conduct business as usual.

Fortunately, over time business has a way of weeding out people that conduct themselves without integrity, or morals.

A PM will be held to certain standards of conduct and care regardless of them screaming "it's not our fault"!

For instance, if you were to conduct this offering soley to residents of Texas (no other state's residents eligible), then this would be an exemption under Federal law and Texas Securities law would apply.

While I conducted business in several states, it was time consuming keeping up with foreclosure requirements.

For example as a broker I sold many homes to people that wanted to buy in my main town in a certain area and school district and there were two main streets that conducted the rush hour traffic.

In a semi-previous-life (different position at the same company) I used to conduct energy audits on large MF properties. 100% of the time, we found that if Management was paying for heating/cooling, the tenants kept their units at 75+degF in the WINTER and 64degF in the SUMMER.

If your IRA were to own shares of an LLC,along with other investors, and then that LLC conducts business buying/selling/renting/flipping property (again, it cannot be property either you or any disqualified parties have any ownership or personal interest in), the LLC as a company can claim depreciation on the property, operating gains/losses and so forth.

I would request permission to attend some of the sales meeting that your Real Estate Sales offices conducts; learn what some of the local challanges are.