Also, rather than taking a large amount of money and investing into one single directly owned property, I can split it up into much smaller chunks across many different passive investments.

Welcome to the community and be ready for a huge amount of information at your finger tips.

Connecting with them directly will help you get a better sense of voucher amounts, inspection standards, and timelines.

Brandon,Check out Indiana & Ohio for states that you can buy 2-3 for that amount of liquid reserves. 

Net proceeds - Is the amount of cash that goes into your exchange account.

Due to the market conditions I wanted to have a good amount of equity in the building so I only refi'd 50% of the purchase.

Sometimes 5 in the case of 9% LIHTC deals but all the way up to 15 as I’ve seen in 4% deals.  9% is competitive meaning there’s only a certain amount of projects awarded each year by your states HCR.  4% is not competitive and is usually more appropriate for large projects because 9% will get allocated to projects of smaller size so as to spread the benefit.  

You have 100/mo x 12 = 1200.You take the cash you have at end of day and divide it by the amount spent and that is CoC. 

The issue we are running into is that lenders are not recognizing the excess amount he earns as income, therefore it looks like he will not be able to afford any loans that he would be approved for.

Proper bookkeeping will help keep track of who has what dollar amount invested into the property in case of a buyout or a death.