Strategic partnerships and alliances have enabled industry players to pool resources and expertise, ensuring the success of new projects in a challenging market.As we look towards the future, it is clear that the “Missing Middle” will continue to be a focal point for residential construction and development in the southeastern US.

You need first to verify they are okay with this.You must be very careful since if any investors are "passive," it becomes a syndication, and then you must consult an SEC attorney.It sounds like your investors will pool their funds together (they probably will create one LLC) and become a 2nd position lender.

All things being equal, I'd rather not have an HOA with fees, but a family friendly neighborhood with amenities like a pool and playground may bring in a higher rent than other comparable non HOA properties.I don't prefer an HOA, but it's not an automatic deal killer.

I purchased a 3/2/2, 1366 sqft rental home built in 1986 (roof 8-10 years, no pool, smoke alarm, etc) in May 2023.

In fact in this inflationary environment and rising rates, your pool of buyers may be smaller by the time your project is completed. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The lease was re-crafted when I purchased to add an appendix that strictly prohibits trampolines, pools, swing sets, and more. 

These communities often feature amenities such as fitness centers, swimming pools, and communal spaces, providing residents with a high-quality living experience without the burdens of homeownership maintenance.Moreover, the low housing supply in Sunbelt states has created an opportune environment for BTR developers and investors.

DSCR lenders make their own guidelines that can be similar to conventional loan guidelines but are often different as the DSCR lenders generally sell their loans after closing to replenish their cash to investors who have different guidelines depending on the investor pool. 

The builder says it is fixed (the builder patched the roof, replaced a tile, dried the walls using fan), but the leak detection test still identified elevated moisture levels in the walls and they couldn't pinpoint the source of the leak (There was no leaks in the pipes)So now someone else gets this solid opportunity, while you continue to search a more limited pool of opportunities than that someone else.