@Alex Ramirez can you elaborate on how you set up the LP to purchase the properties?

We have all the financing set up, closing costs ect., definitely okay with not getting instant cash flow.

Main items of concern:Lease set up: Business to owner, specific items to include - boiler plate or company that can generate for a feeLiability issues and insuranceADA requirements: the owner had stated only required depending on what tenants live in the facility- carbon/smoke alarms - no ramps, etc (seems fishy as in construction rules on ADA are stringent)As the owner do I need any short of license?

If you go driving once a quarter and set up a follow up cycle you will never need to go to someone else again and your profits will be far higher because you aren't paying middleman fees.)

HOWEVER, the way this loan product is setup is that both loans (construction and permanent loan) are closed on the front end meaning I sign all closing documents.

If you want to do this properly I would set up a mtm lease for each of them that way you can record the income for tax purposes. 

I haven't had this exact same setup, but with my deals we usually allocate the equity splits based on roles, responsibilities and what you are bringing to the table. ex.

., we set up a time to go view the property and she didn't show up. 

But you must have a pre existing relationship with them. 506b also has onerous reporting requirements like a yearly financial audit that will run you $10-$20k, so if it’s less than $1M a 506b may not be way to goAnother is a reg a+ offering but that costs $100k+ to setup and requires registering and review by sec.If you want passive investors who are not accredited there are not many options.

I would think keeping them separate would be better so funds aren't comingled.Also I am a realtor in PA and I know it is possible to have your business set up as an LLC, but you can be taxed like an S-corp.