Second year distributions rise to 5.27%, third year 7.27%, according to the projections.Those projections may be at risk, for many reasons: the recent huge increase in interest rates -- increasing the cost of loans and decreasing valuations, insurance costs have skyrocketed, real estate taxes are up, labor and material costs for repairs & renovations have increased, etc.On the plus side, the majority of the ODC funds were designed to be high value add projects with plans to increase operating efficiencies, add tenants and raise rents.  

However, are you planning to do a 1031 exchange, or is this a primary residence? 

If you're working on other projects during that time, it could create an issue, as it would for any employer.Why not be upfront with your boss and let them know you're planning to get your real estate license?

I also am planning to meet with my PM on Monday to discuss pain points and better expectations, I would love to hear what sort of expectations you set with property managers?

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.

We never planned to keep our new build for 30 years, which is why we would have never used your cap ex valuation. 

Personally I like to do things the "right way" and if you plan is to grow you may be better off hiring it out. 

If you're planning on investing out of your area and will not be managing the property, why don't you look at better markets.  

I plan to sale the lots that way.

I would say sec8 is the pinnacle of requiring great management, systems, planning and methodology.