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I doubt it will go far.
I don't think much of it.
Robert, I'd say there may be issues about raising funds with out providing a prospectus? Perhaps securities fraud issues? I keep hearing commercials here in Northern California for "Rich Uncles" which seems to be a REIT. They are asking folks to purchase one of their REITs. I always thought there was a "rule" as to how many investors you could expose to an REIT.
it isnt easy, i ponder this similar type of question/answer often. i see a huge area of opportunity for private investors to work on a local basis to fund different local know entities to ensure a healthy ROI and keep it local and prosperous.