@Andy RouschThere are so many factors involved, that it'd be tough to answer this question concretely.

@Chanel Andersonin addition to what was said, if you need more concrete things to analyze:1.

You need an attorney who specializes in syndications to set it up in an SEC-compliant manner.

The building is in Arizona, and consists of concrete slab/cinder block construction with a comp shingle roof.  

Simple build - it is a 2 piece modular house with a concrete foundation, roof only 5 years old. 

The concrete steps at my rental property have had a bad winter.

@Brent Thompson - the potentially difficult part is how much concrete they have to break up to reach a sewer line and if any demo then framing needs to be done.

I see this as each of them put 50% of capital in and are 50% responsible for the loan.Does this sound like a 'more compliant' way of doing things and still keeping a low down initially for those involved?

I work in concrete construction full time and as a cook on the weekends.

Actually the market for ADA accessible housing was my first thought but I didn't realize there was a large enough market.