Well, in typical gov't fashion it was a little stupid.  

Operating income received in this fashion would be subject to UBIT.  

I'm in Raleigh so don't have many connections in CLT, but I do have properties in Western NC.   

If you want to be patronized, I'll be happy to answer all YOUR questions in that fashion (telling you what I think you want to hear), but I'm going to assume that everyone else would prefer to hear the truth.Harrison is absolutely right on this issue, if you want to be successful, you need to be authentic.

In contrast, a sponsored licensee cannot provide property management activities in the same fashion. 

The only annoying part about the whole thing was the need to get physical documents notarized, which seems a bit old fashioned when the rest of the process is so high-tech.

I bought a 4-plex in western ND in 2003 for $88,000.

You can check track records but you have very little opportunity to get to know the sponsors, talk to them and gain confidence, trust and learn your criteria.Understand experienced sponsors of apt deals like to work in more subtle fashion on the BP site and build relationships which is the right way to go.  

They don't typically publish their reserve price, and each auction seems to set it in somewhat in this fashion.  

I was hesitant to buy the NY forms because of the distinction between NYC and western NY.