That’s what impacts everyone on this forum way more than anything in that shareholder letter

Corporations are run for the benefit of shareholders, so shareholders need to know what the business is doing, ultimately they are the beneficiary and owner. 

@Eric SmithGenerally, if the taxpayer sells the relinquished property to an unrelated party, the taxpayer generally cannot acquire replacement property from a related party unless:The related party is also participating in a 1031 exchange.The related party pays more in tax on the sale to the taxpayer than the taxpayer is deferring in the exchange (this scenario is rare).Let’s look who is considered a related party: Spouse, children, grandchildren, parents, and siblings.Corporations and shareholders owning more than 50%.Commonly controlled corporations.Partnerships and partners with more than 50% interest.Trustees, grantors, and trust beneficiaries.Non-Related Parties:In-laws.Aunts, uncles, nephews, nieces.Friends.Domestic partners.Entities owned 50% or less by the taxpayer or a related party.In your case, your mother-in-law, aunts, and cousins are not considered related parties to you under the definitions in Sections 267(b) and 1031(f).

GSEs, once established, operate as private corporations, with shareholders, and are sometimes even listed on stock exchanges.

Your first step is to contact a savvy CPA.You, as a Member of an LLC, by virtue of the LLC records provisions in the LLC law, have as much disclosure access, and more, than a shareholder of a public company.  

The same way I'd have a fiduciary duty to shareholders if I was a revenue manager for a hotel chain or airline.Far from gouging, I most often use PriceLabs to automate discounting strategies. 

Buying with an LLC is a great way to safeguard yourself and your property, highly recommended, however, if you’re purchasing through an LLC that was not formed specifically for the purposes of acquiring your investment property, ensure you own more than 50% as LLCs can get complicated with multiple equal shareholders.

They come out every now and then for show and pretend to punish the banks, who pay fines with victim and shareholder money.

Take ANY organization of size, take Apple for example, and add in a printing press in the basement and remove ALL reporting requirements to any oversight by shareholders and what will you get after 50/60 years?

When we were looking at our offering which our investors are preferred equity and shareholders, we looked at debt obligations and if we would need to register for an exemption etc.