I wonder if they could also beat Michael Jordan one on one or tiger woods at a round of golf…If they do not have a PPM (technically not required but I have never seen an investor invest in an offering without one and make money)They still just register the offering with the sec or they are raising money illegally.

Then try to figure out what you are legally required to do with the stuff that was left behind. 

We decided we'd like to transfer ownership to our children so we can help them avoid the new Proposition 19 law that requires property tax reassessment upon inheritance.

They do not require tax returns, paystubs, or W2's.

I was required to add exit signs in the shared hallways / stairs, and to add interconnected heat detectors in all units, and to upgrade all smokes in all units to be hardwired, and to create 1-hour fire separations between the three units, which we accomplished by painting the ceilings and walls shared with stairwells/common halls with intumescent paint.

There were a couple of things that I required in the units in order to move forward with this deal.

There is no statutory requirement for rental income.3.

All figures are generated for illustration purposes only and do not reflect actual figures of any of our current/past transactions.Questions:1-If our debt package requires 3 months of prepaid P&I ($15,000), should we increase our Sources & Uses schedule to account for this figure, or do we anticipate the property to perform & simply borrow funds short-term from ourselves or 3rd party credit until operating incomes can pay back the short-term loan?

If the payment is conditional on the closing of the property, that's brokering and requires licensed agents.It can get sticky in my experience.One way is to pay for the leads, so its not conditional on the closing. 

This is primarily due to high interest rates and a very wide bid-ask spread between what sellers want for their property (the ask) and what buyers can conceivably pay (the bid) while being able to meet their return requirements for their lenders and investors.