Their business model is to buy a lot, sub-divide into small high density lots, and build modern or quasi-modern homes on these newly created "micro-lots."  

You can either divide these expenses and put a portion under each property (REIA Fees, Cell Phone, Internet, ETC), or, based upon your post where you spoke of wholesaling, I assume you made an income not from a Schedule E property.

If you take the people who didn't graduate from college and you divide them into two groups, those who didn't go to or graduate from college because college was difficult, or they didn't like doing the work, or they had mental health issues that made it difficult for them to succeed at school, and a second group of people who didn't go to or finish college because they had a business plan that was taking off it wasn't convenient for them to continue to go college as they were building their business (such as Steve Jobs, Bill Gates, or Ralph Lauren, or other entrepreneurs who know how to work hard, problem solve, and set and reach goals, or who have great leadership skills) then you are going to see a very different story.  

This option (when available) may allow each "designated agent" to more fully represent each party.If you choose the “dual agency” option, remember that since a dual agent’s loyalty is divided between parties with competing interests, it is especially important that you have a clear understanding of what your relationship is with the dual agent and what the agent will be doing for you in the transaction.BuyersWhen buying real estate, you may have several choices as to how you want a real estate firm and its agents to work with you.

The reason being, they suddenly have a lot more to worry about than investing -- they need to worry about partnership agreements, dealing with variable money sources, dividing responsibilities, etc. 

Even real estate appraisers refer to a cap rate in the the appraisal process when what they are really using is a net opportunity cost or alternative investments carrying similar risks.It's easy to use and easy to say and investors know what you mean, that your the value divided by the net operating income gives you a ratio.

I like to look at cap rate, and many like cash on cash return cap rate is income minus expenses (excluding financing costs) divided by purchase price. 

@Ian Ippolito, @Bryan Hancock, So for my own clarification.... we are talking about the divide between the real estate crowdfunding platforms that list investment opportunities from multiple sponsors and where the sponsor and the platform are not affiliated with each other on one hand, and on the other side real estate crowdfunding platforms that list investment opportunities from one sponsor exclusively and where that sponsor and the platform are affiliated?

If you purchase a large piece of property and later decide to sub-divide it, you could distribute out a piece from an LLC without incurring a taxable event.

I would like my SD IRA to make most of the exit fee and the interest income to be divided between the SD IRA and my LLC based on the $ contributions.Please advise how this disproportionate income distribution is possible for a note with SD IRA and my personal LLC?