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Most articles indicate the investors had no idea there was a problem because they were receiving regular distributions and only found out about it on the news. 

It is kind of a derivative or "other use" of the appraisal, which is unauthorized by the appraiser or client.

@Tim Schroeder CBIZ and Proper policies are crafted to meet the insurance needs of properties where the majority of the revenue is derived from Short Term Rentals, 30 day or less terms. 

Owner distribution from PM should be recorded as a check/expenses in the Funds Held by PM register payable to your name or LLC name, categorized as Undeposited Funds (then process bank deposit) or directly categorized to Checking account (where the fund is deposited to).

If he was going to at some point (because this is still a life insurance policy) take the dividends as cash instead of reinvesting them into the policy or take distributions down the line, there could be a tax implication if it were a stock company rather than a mutual company.  

Once you find promising wholesalers, you want to ask them to put you on their email list, which is usually how they distribute investment opportunities to their network.Foreclosure AuctionsAnother effective method for finding investment properties is through Foreclosure Auctions – which exist as part of the lender-owned sale process to help banks and other lenders minimize losses on loans that have gone bad.Each state conducts real estate auctions differently.

You've got #'s running as if your buying a bond with a set distribution, this is real estate NOT a bond.

Certainly, you cannot get away with making your "salary" $1 and distributing all the income as dividends.

@Garrett AyersNot sure this question can be answered without knowing who the grantor of the trust is, what is your intended outcome of holding the property in an entity, and who is intended to benefit from the profits derived from the property.