Invest in Limited Partnership for Apartment Build?

[Account Closed]

Hello,

I was offered an opportunity to invest with an apartment developer.

So I would pay $100,000 for 4% interest in a 12 unit apartment build in a Limited Partnership.

I have just had a rental unit, so I am not sure about LPs...

The developer sent me this:

When constructed in two years, the LP will refinance the project. The builder's estimate of return on money after the two years is thus: when refinanced and rented out (builder estimate) an 80-90% return on investment and you would still hold your percentage of ownership.

-So my question.

1. Does this mean in two years my $100,000 will be paid back to me (let's estimate low at 80% ROI) so at refi I get a $180,000 check?

2. If that amount is correct, what are the taxes on a refi gain? STCapGains or LTCG??

3. Does my 4% still equal a part of the monthly rent...or what does that 4% represent after refi? Like will I get a 4% portion of the rents each month?

4. Has anyone used CheckaContract dot com for $199 for a lawyer to review a LP or similar contract?

Thanks for the help!