In many instances when an NFA is pending the transaction is closed and the seller leaves a large escrow (usually from proceeds of the sale) which is then released back to the seller after you receive the NFA letter.

It's illegal (See the TCPA - the Telephone Consumer Protection Act) and supremely obnoxious.EVERYBODY hates robocalls, ringless voicemails and spam texts. 

I am looking at a property and it has an upstairs that’s completely detached from the main floor of the house and has its own kitchen.The kitchen is of course illegal.

So whatever your state allows is the limit for the primary transaction. 

The investor, or other type participant needs to know exactly what the risks are with each transaction contemplated.

I now have a handful of good potential tenants, but I think I may be pricing it too low.Is it unethical or illegal to allow the tenants to bid on the apartment? 

I now have a handful of good potential tenants, but I think I may be pricing it too low.Is it unethical or illegal to allow the tenants to bid on the apartment? 

You may not return 100% of capital, but you can return a significant chunk and if your investors can retain their gains in the deal they are able to roll the returned capital into the next opportunity, and incur significantly less transaction costs in the process.

You’re going to need to find something transactional to produce the income you will need to do what you want to do.  

This increase from 20 to 39 percent will change the course of so many of my transactions (some not real estate related).