If Spark creates an entity, operating agreement, blue sky filings, SEC filings, etc, that all costs money this is cost a, presumably, the LPs are reimbursing for.

Ya no retirement for us old dogs.. its too much fun and you need to do something to keep stimulated in my mind.Also I have seen many of those type of storage facilites all over the US as I travel to the markets I work in..

Hoping both LPs and GPs can weigh in to help newer investors sharpen their due diligence skills

@Brian GarrettWe've invested as GPs and LPs in larger multifamily properties in Florida and Texas in the past. 

Property-level books can be handled by a bookkeeper, but fund-level books should be CPA-controlled to avoid costly surprises at year-end.Investor Preferences:In my experience, most LPs like the simplicity and diversification of a fund model.

But hey, I know a million LPs that would actually see this as a positive and potentially agree to a higher fee knowing its only payable out of the projects upside!

Therefore, if you are a GP with a $100k co-invest, you likely can't receive more than $100k of losses in most cases since your LPs would bear the burden of the remaining losses (and therefore receive the tax loss allocation).

As someone with firsthand experience in a Westdale Asset Management-controlled property — and a background in asset-backed operations — I feel an obligation to warn fellow sponsors, LPs, and institutional investors: Westdale’s property management practices are exposing capital partners to serious legal, operational, and reputational risk.This isn’t about bad customer service.

Maybe some GPs can intimidate their own LPs in private.

The reason those investor accounts are out dated because many operators get more institutional... when they go over 2-4B in AUM... higher splits and fees means less ROI for LPs... the trade off is reliability in terms of counter party risk (stealing your money).