With the proceeds we later purchased two properties the same month, one with FHA loan 5% down and received a closing credit of $8k plus a $2k check made out to us after closing.

If you do it all above board, you would pay taxes on the rental income received and your daughter would be using post-tax dollars to pay rent which isn't the most efficient.

However, I received some feedback from one of my partners that the play here would be for an investor to subdivide or re plat the land for a multiple tenant situation.

I think my attorney gave me bad advice and we did not foreclose on which would have been best because I would have at least received a judgment on the buyer. 

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

Lenders tend to have different requirements.... some look for a required minimum membership interest and others look solely at direct benefit the signer receives which could be membership interest, fee etc.

Addressing community concerns upfront isn’t just a requirement, it’s a smart move for standing out with well-received projects.

It'd be nice if I could receive help or tips from anyone (new or experienced).

I received permits at the end of October and waiting for them to scrap my lot currently.

Most would think it starts from the time you receive your certificate of occupancy, but that is not the case for conventional loans.