Your construction eye is an asset, so pair it with a clean deal calculator and two comps.

A further problem is that Reg D requires NO ongoing reporting of financial, market, or operating information.  

Good rule of thumb.Don't hold onto assets that lose money unless you see massive appreciation over the next 5 years where you can make a killing.

Just be careful as often Note brokers are sharing assets that are not approved by the seller to share and the assets could be old. 

For long-term wealth transfer use a family trust or family LLC to shift appreciating assets tax efficiently.

@Paul Bommarito, are you concerned with their financials?

I wanted to share my notes and see what others think about whether these issues are warning signs to watch for:Open Door Capital (Brandon Turner / Brian Murray / Ryan Murdock) – Broad focus across asset classes (mobile home parks, apartments, self-storage) and geographies (half the country).

If your goal is financial independence or income security, this requires far more.

Lending is not really a RE brokerage activity, so don't rely on brokerage services to cross the river into financial services. 

The property is worth $500,000 roughly and this should lead to a $60-65K depreciation deduction from a mixture of long-term depreciable assets and short term (furniture, finishes, sidewalks, landscaping, etc.).