The town had been depressed for decades, with very low prices and minimal demand, mainly due to the lack of growth stimulants.

@Dan Goeckel For LPs, I would recommend Passive Investing Made Simple (Anthony Vicino, Dan Kreuger) and then move on to Brian Burke's The Hands-Off Investor. 

If these LPs cannot group activities and are not materially participating(based on the three criteria), the 25k rule does not apply to LP as they are not deemed not to qualify for active participation. 

There is very little monetary "return" on putting together a super comprehensive offering with detailed financials and multiple different exit types as this document is usually quickly reviewed by LPs before deciding to invest. 

Smart LPs understand what are the big things in the ASSumptions to look out for so they don't go into a sucker deal.

A few questions to help clear up my confusion...Let's go with an 8% preferred rate of return for a simple example.On a $100K investment this would represent an $80,000 PRR to the LPs before any other distributions are allowed.

No investor groups or LPs involved, and we also have a property mgmt company that will most likely be outside of the HoldCo structure. 

If so, to look at this on an ongoing basis, with any sort of realistic output, you need to know the total capital invested, all distributions paid and date they were paid, AND run a mark-to-market valuation to ultimately guesstimate your sale proceeds that would go to your LPs, if you were to sell the asset when you are running the calculation.

I was just hoping to stimulate some conversation and see if anyone had any ideas on how to make our properties even better. 

You want to find a real estate market that promotes and stimulates growth.