So your tenant pool is extremely important if not the most important thing to look at when investing in NJ.

Just like our BANKERS validate and question our deal analysis, you need to be the BANKER.Majority of the Syndication failures going on right now are due to either Short-term financing used on longer term projects- in a period of extreme interest rate hikes, material Inflation, or Covid related supply chain or personnel issues.You as the BANKER, know that all of the above should have been covered by the Syndicator and by you the BANKER. 

However, Northern Utah seems to me an extremely hot market right now, with deals closing before they can even hit the MLS.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Other campsites are truly primitive with no amenities at all in terms of water/power/sewer. 

Perhaps you can equity strip and refi to keep equity exposure to $1M, but these are considerations worth having now if you have the purchasing power you’re suggesting.

It's legal for passive investors to have voting rights and power in the deal. 

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Thank you, that is extremely helpful. 

Here's some background: Data warehouses need the following: 20-50 megawatts of power, land (3, 9000+ square foot facilities within arms distance of each other), water and fiber optics. 1.