The people who buy here are buying for experiences and memories, not so much investment return.From speaking with other financial entities and members of the community, we are looking for partners to assist in offering loans of some sort, such as:1) Direct loan to buyer of house (less a down payment), and then payment arrangement between loaner and the buyer2) Loan to the cooperative as an entity who then administers the loan between buyer and cooperative, with payments paid back to financial organization from cooperative3) Loan to buyer with cooperative as co-signer, therefore making the cooperative the ultimate responsibility in the event of default4) Create a member-funded reserve fund or actively managed account which will then be used for giving out loans to new members at an interest rate.

I mean if something were to happen to him, so to speak, I wouldn't want his name to be the only one on the loan.

There is no cost and no obligation to using anyone that speaks at the event, but you may end up wanting to add most or all of them to your support circle when you begin investing. 

Speaking as s a Realtor you will not have a hard time selling it if you go that route and here are the numbers to prove that. 

They need to speak to an advisor about their basis in their equities and their loss/gain position.  

I am not an attorney, nor do I attempt to speak as one, so always consult an attorney.I think most companies wait till the 5th to assign late fee's and offer a grace period is for that very statute you listed.

You didn't speak about cash reserves, whether or not you would have an income outside of the property while going to school, how much you'd be putting down on the property, how you'll fund the build out on the areas to attract students, and if you have any experience with rental properties. 

We typically like our agents to only work a few cities that they know very well.Let me know if you would like to speak more about it.

Sorry for the long post I just wanted to get some feedback before I speak with an attorney.

You should speak to as many TK operators as you can!