I think fix and flips in those areas would probably make a little more sense.

Does this structure make sense for investors, or would you recommend different terms to make it more appealing?

I sense a bit of "purpose" that is driving you that you may not have thought of.

Selling and exploring a 1031 exchange could make sense if you can find a deal with stronger cash flow or faster equity growth, but the key is comparing your current return to what your skill and experience could generate in another investment.Here to help,Jorge

These are the best options for finding sellers willing to transact in today's market at cap rates that make sense to the current interest rate environment, in order to capitalize on the upcoming favorable market conditions over the next few years such as spiking rent growth, falling vacancy, and compressing cap rates.Interest Rate ProjectionsLooking at the Federal Reserves Dot Plot, which is released every quarter and is the federal reserves outlook on where they believe the Fed Funds Rate, which does not control fixed-rate financing but does influence it, as well as directly affects floating rate financing, is predicted to be 3% - 3.25% by Year End 2027 (Source), currently sitting at 4.25% - 4.5% today.

When you’re investing with leverage, I think it makes more sense to do it in a market that’s showing plenty of signs for growth.

I think it makes most sense to create a buyer's list, and then move to contacting prospecting sellers.

Gotcha that makes a lot of sense. 

Learn what each one of these are, and see which makes the most sense to apply to your specific financial plan. $150 cash flow on any rental especially a triplex is dangerzone imo. 1 month of vacancy of 1 unit could destroy a years worth of financial gains.  

doesn't make sense to treat the house then throw all the stuff away, and replacing the carpet and repainting the entire house2.