What if the risk adjusted return profile changes such that Wall St is better off taking gains (selling houses), returning capital to shareholders, and moving to the new shiny fixed income product that is benefiting from rising rates?

I'd encourage you to think about a preferred equity structure and distributions instead of cash on cash returns.  6-8% preferred returns are pretty common for most project types that use private equity structures to capitalizeA very fair structure if you learn to message it well and have quality marketing systems is:Preferred return to A/B (cash, property) shareholders where they're pari passuMatch to C/D (compensatory, promoter) shareholdersSome split that will probably range from 50/50 to 70/30 (investor/sponsor)Dial to fetch what the market says you need to attract private capital for your investment type and perceived risk that spans horse risk and jockey risk.  

But, as a share holder, principle, (president/chair/executive), partner etc...

My understanding is that LLC is owned by two IRAs in certain proportion and there is no other shareholders of that LLC.

It has shareholders, which is a subtle distinction. 

Anyways, the biggest issue was majority shareholders.

I can't see it being allocated to an expense account, and since you are claiming the profits on your personal income taxes (I am assuming Sole-Proprietor Schedule C or E), then it would not make sense for it to be a payment to shareholders -- since you should be the sole shareholder. 

@Robin CornacchioThe reason being is that in order to be a shareholder of an S-corporation you must be a person.

For example, ROBS must be implemented in a C-Corp, which means you have to have annual shareholder meetings (and keep minutes), you have to do annual state filings, you have to ensure that you pay yourself properly (not too much, not too little), you have to ensure that you offer your employees stock participation, you have to get annual appraisals of any assets the company owns, etc. 

From a US tax perspective, if you set up a non-US entitywhere all shareholders have limited liability, by default is it a foreigncorporation for US tax purposes.