Thank you so much! I do have one clarification question -
For question #1, material participation - you said "I am assuming that since you don't work for the PE you are not involved in the details on what portfolio companies are being purchased, etc."
- Actually, my paycheck does come from the PE/commercial real estate company, even though my job title says I work for the senior living company. There are 4 layers of organizations in view: (1) the PE/commercial real estate company, (2) "Main LLC" which the PE company formed as a fund for individuals to invest in, (3) "LLC #2" which is one of the investments Main LLC purchased, and (4) the senior living company, which is owned in part by LLC #2.
- I am a high enough ranking officer in the senior living company that I am asked to give input to the PE company about other senior living companies they are considering purchasing. I don't make final purchase decisions, though. I don't work for Main LLC or LLC #2. (I'm not sure anyone works directly for them? They don't really have employees since they are just investment structures.)
I really appreciate your help.
