b'Identify a suitable property; Perform financial and physical due diligence, and conduct market research and feasibility studies, if necessary; Form a legal entity that will take title to the asset;Obtain financing from institutional or bridge debt sources, if available; Hire a securities attorney to structure your company and prepare your offering materials for investors; Raise money from investors, either on your own or through crowdfunding;Close on the property; and Take over operations. Operations Phase In the operations phase, the asset manager will: Hire a professional property manager or manage the property yourself to manage day-to-day operations; Oversee capital improvements such as rehabilitation or development of the property;Oversee the on-site property manager on behalf of your investors;Maintain books and records for the property and the investment entity; Make distributions to investors and the asset manager according to the operations waterfall distribution schedule establish in the companys governing document. 111'