Your best bet is going to be to join the facebook groups, there are 3 major ones in Lansing.

Since you are an active service member the IRS will allow you to have lived in the property for two out of the previous ten years of owning it. you'd just want to verify with your accountant that you qualify for these extensions.Since you converted the property to investment, you may also take advantage of doing a 1031 exchange when you sell.

I have a 1031 exchange coming up soon that I can leverage into $900K+ for one or more properties.

Nickerson added “exchanging” real estate to upgrade to larger holdings without paying capital gains tax to his formula, and a number of other books were written about the subject in the next 10 years.  

So a nicely decked out  cabin I bet would rent real well for STR purposes  Not sure about permits etc..

In exchange, the GPs will get more equity or potential upside per member (makes sense, they are taking on more personal liability and all the work). 

A client can also close on a new property in less than 45 days so no long closing or pre construction risk. 1031 exchanges are easy to fulfill with our model. 

I explained to the seller that my offer contained a substitution of collateral clauses and I would be exchanging the note they held on the subject home with a note of similar principal and interest secured by a different property of greater appraised value.

Thank you,Nirav Since you already pulled the trigger...and are a limited partner...this means you have the benefits of that (i.e. no liability beyond your investment) in exchange for generally having no ability to vote or have a say in how the investment is managed. 

If I'm understanding this correctly it mainly makes sense if you either plan on holding the property or doing a 1031 exchange in the future?