Just like that, the entire deal was on the line.I decided to try one more approach.

Given the size of the transactions generally offered on crowdfunding sites, there aren’t enough secondary trades large enough to make the economics work systematically (besides the regulatory constraints) for Broker/Dealers to be incentivized to help LPs to redeem their positions via a sale/transfer to a new investor before the end of the investment period. 

You will see very quickly there are both cashflow and appreciation approaches.  

If anyone has experience with these tools—or recommendations for others—I’d love to hear your insights on the best approach for connecting with local multifamily owners.

I think it depends on the market.. they approached me on a furnished rental I had in Vegas (Summerlin gated community A class)  We got basically double or a little more of the normal rent..

got it - so is the capital raised from family / friends, or did you also approach institutional investors?

However, my timeline is flexible, so I could end up staying for a shorter or longer period depending on future plans.In my research, I’ve noticed that many condos in Buckhead come with renter restrictions, which is causing me to reconsider this approach.

Pros- the loan costs for this will be less, depending on their underwriting approach (creativity and aggressiveness) then they might do the first-year interest-only allowing you to rehab and put in long term financing without having to refinance. 

Wondering how to build trust in him to do seller financing with us after this.For reference we have 100% close rate, my thoughts approaching this is to counter back and say the risk of default is very rare, if he's worried about the park defaulting he just needs to save up $20k in reserves and he'll get paid $70k in income for the park for the next 5 years while he waits for balloon.

Your goal of buying, holding, and potentially refinancing in a few years is a great approach, especially if you're already running numbers and considering market analysis.