b'Guidelines for Asset Management Entities Use a separate asset management entity as the manager of a syndicate or funddo not name individuals as the managers of a fund or syndicate. Doing so puts equity in anything they personally own (like their primary residence) at risk, and would require investor approval if you needed to make a change in management. Dont use an entity that already owns something or holds a license as the asset manager of a syndicate or fund. If the offering fails, investors will attack your license, and the liability insurance for your license could deny coverage for engaging in non-covered activities.If you are going to provide property management services, which does require a license in some jurisdictions, use a separate entity (not the asset management entity) for that. Use that entity to hire property management employees, and to deal directly with tenants. Make sure you get property management insurance for that entity.176'