I agree with josh.As I research more, I have relalized that you can defer 100% taxes but only avoid 15% of the capital gain if you invest the fund in the qualified zones. 

Tax Benefits - I'm not an accountant, but depreciation against your top line income usually causes a net loss which can then be transferred over to your W2 income should you make less than $150k per year. 

Therefore, we made a “profit” of $10k and I’m curious how I can avoid paying short term capital gains taxes on this land.

I feel that access to capital will allow me to further my real estate investing racket.

Of the two houses, one did not require money, the other he got from his father.We are now looking to raise capital, and I was wondering two things.1)The best way to network in order to raise capital, how should I approach people in real estate meetups, or where else should I look for people?

You can't sue someone for future rents, only for loss you already incurred.

I like the cash approach because you can be more competitive in your offers and still pull all/most of your cash back out to have very little of your initial capital tied up in it.

I have access to capital and a strong knowledge of residential (as well as other types) construction.I'm from Mechanicsburg, Pennsylvania (which is just south of the capitol city of Harrisburg).Would welcome any suggestions for finding deals. 

Pull out the paperwork you signed with the first company, but I would imagine they have liability for any losses for sure.

The partnership would pay you a Guaranteed Payment for the use of your capital up to certain amount.However, the GP are not included, does not qualify, in the  new 20% deductions  that you might be entitled to.