The really cool thing about this is that when we receive a call from a potential client, we know it is for our rental property and that we can answer the phone in a professional manner, "Thank you for calling greatrentals, how may I help you?).

They are compelled to present.

Under SPECIAL RULES, (f)(1)(A)(iii) of the bill: "...partner’s or shareholder’s allocable share of the unadjusted basis immediately after acquisition of qualified property shall be determined in the same manner as the partner’s or shareholder’s allocable share of depreciation.

I know that if I were in the same position as he, I'd work with you on getting you out of the unit in a fair manner.

You should always have adequate insurance, operate your business in a responsible manner (do not be negligent), and do not do anything to allow an attorney an easy way to "pierce the corporate veil".

Easiest thing to do is to form a relationship with an agent, possibly compensating them in some legal manner, and having them send what you need.

This can be viewed as "credit support" for the deal and one can value the debt in a different manner than the value assigned to equity.

@Steve Babiak  pretty well covered above and the reason when I did my second HML venture I only used bank LOC's and no private investors... lots of work keeping everyone happy and answering all these type of questions.However for brokers who work in this manner IE with the individual or pooled investors going through this initial pain of attracting investors, once you have them and you and the loans you source perform you can build a client base that will last for literally decades..

Credit does not have to be perfect but we require all bills be paid in a timely manner for at least 12 months with no outstanding collections. 

I like that idea doing smaller deals locally and going out of state for something compelling.