Hi @Dror Samoelov that would be a partnership agreement and frankly its best to have a qualified attorney create one that meets your criteria and is compliant with the laws/regulations where the sponsor and/or partners are located. 

In the absence of a specific City statute or regulation to the contrary, Maryland law controls:https://law.justia.com/codes/maryland/2017/real-property/title-8/subtitle-2/section-8-207/

And for a SD-IRA, I have found that syndications are just easiest to invest in without getting caught up in all the rules and regulations, but you certainly can do the LLC and have a third party manage the asset.

Not regulated industry.

Originally posted by @Michael Woodruff:@Nick C.so you’re telling me I need a license to tell my grandmother who has property that I have someone to buy her house and if the buyer is excited and wants to pay me a percentage off of closing from an experienced closer/attorney I’m in violation.I don’t get it that is free will.Im not lying and telling them things that aren’t true.I understand their are laws but I’m not naive to the fact that I have a right to direct people in the right direction.Ever though I don’t have a license as a realtor or a broker.I also understand that you guys have a job to do or a business to run but I had a personal conversation with a Real Estate Attorney and he did not deny me that what I was doing was wrong.He told me what the closing cost was and that was final.Whats the laws on Wholesaling was the question totally different from the explanations.first thing you will learn is Lawyers are not regulators if your just talking to a closing attorney they could give a rip if your breaking licensure laws.  

Ok so just to be clear...Im thinking 8% cash on cash return paid out quarterly...at the three year mark they get their full amount invested out...does that still require sec regulations and a 10-20k set up price?

@Aaron MoayedGood question, as owner of a PM company I can say that there a certain things that we as a lisc company that is regulated by the state of texas we have things that we are required to do and be liable for.

My insurance most likely wouldn’t cover this.Since the Property Manager is placing the tenant...they are the ones responsible for following all of the government regulated guidelines.

I’m just about to list a duplex for sale this week. This will be the first time working with the listing I choice. I think he is a perfectly fine agent and I have no concern with the house selling. Today pictures were...

Maybe I'm in the minority here, but I think landlords could use more regulation.