True Joel, but like pulling teeth to get Syndicators to show you their track record, ie actual total returns with breakdowns of distributions + capital appreciation + principal paydown etc, and SEC so loosely governs Real Estate that it's the only investment category that doesn't require standardized return metrics like the 30=day SEC yield on any fixed income product is mandatory, or audited GAAP accounting standards on finacials from public stocks/Reits etc Real estate seems to be still a bit more un-regulated "Wild Wild West" than other parts of the investment economy, but i guess hence the much better returns i've had in real estate, risk = rewards This is why the good sponsors get have audited financials and have a third party verify their track record.

It is ludicrous that someone can have so much unregulated control over the valuation of a property.

Rima and I keep people out of trouble with the highly-regulated toxic and hazardous materials - asbestos, lead, VOCs, soil and groundwater contamination, plus indoor air quality and the almost unregulated mold.  

Business to business financing is pretty much unregulated.

The fact of the matter is that unregulated, wages will always dip below subsistence as was pointed out as far back as the middle of the 19th century (I'm a historian.)

If you think about it, because rents are held down (in NYC, there are approximately 1 Million Rent Regulated apts), in a downturn, there is little effects on rents in these areas because the drop in rents are still WAY above the rents that are charged in rent regulated apts.It also creates huge demand for unregulated apts as the 1 Million Rent Regulated apts are very difficult to turn over.

  (6) we do not buy property sight unseen from either unregulated or unlicensed parties (wholesaling does not require licensing in most states)

I wouldn’t want to purchase or manage STR’s in an area that is unregulated because there is a higher risk associated with the laws changing and then you’re SOL with your investment….take NYC for example or Dallas. 

Leave the shady "I'll buy your house even though I don't have the means or intention to" to the unlicensed and unregulated real estate "investors" out there.

We have enough evidence that unregulated buildings and apts skyrocket in price due to the lack of supply of free market apts where you don't need to be on a 10 or 20 year waiting list for that those regulated apts.I think that in the State of NY, and especially in the City of NYC, if you want to acquire a residential investment, you are doing so where the future regulations are uncertain for at least the next election cycle.I also won't rule out Commercial RE to be untouched either.