Hi Patrick, A few things to think about:You'll need to find a property management company who will manage any deal that you buyYou'll need to meet the net worth and liquidity requirements to qualify for a loan You'll likely need someone with experience to also sign on the loanTypical structure between the LP and GP is a preferred return  and a 50/50 to 70/30 profit splitYou can have up to 35 non-accredited, sophisticated investors with a 506(b) offering, as long as you have a pre-existing relationshipAlso, do you have previous real estate experience?

The plan is to sell either one or both and buy either a lot and build or a preexisting SFH.  

Unless you have a pre-existing relationships, there will be no angel investors who will shower you with cash. 

As I work everything out there are still some questions that I prefer not to get from Google.Is there an initial fee management companies charge new clients with preexisting properties besides the monthly percentage to manage them when starting new business?

@Steeve Breton under a 506(b) exemption the syndicator must have an established pre-existing relationship with all of the investors.

However, usually if its preexisting it won't be required, new multifamily builds definitely require carports or garages. 

The pre-existing tenant is a great perk, but it doesn't guarantee that they'll stay, and the lower down the prop class ladder you go, the higher turnover you're likely to see.

Over the weekend I installed a lock on the outdoor hose and informed tenants I would be making visits to check for leaking toilet flappers etc.After word got around I was contacted by one of the tenants to inform me that the one unit that has in-unit laundry (preexisting when I bought the property last Nov) has been running the washer at least once a day.

The exception to that is of course mobile home parks that are preexisting, but I'm not finding any of those for sale. 

A sophisticated investor and a syndicator must have pre-existing relationship though in order to allow one to join a syndication based on this rule.