Lots of time involved and educating the seller why to do this for you..  95% of sellers if they ask their attorney for advice will be given advice do not do this.

I also had horrific PMs, particularly involved with a 48 unit apartment complex in Houston.  

Originally posted by @Joseph Binkowski:Hey BP Community -I was sitting-in on an investor presentation for a syndication of an attractive 320-unit Class B MF development in a fast-growing market, and then I realized... it was a 506c project for accredited investors only [which I am not.. yet:)]So then I began thinking...How can I possibly get involved?

It isn't having paid off properties that offers security, there are still taxes, insurance, maintenance and management involved. 

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

Turnkey properties offer immediate rental income with less hands-on involvement, while properties in need of rehabilitation can potentially appreciate in value.

From the beginning of the discussions though Buncombe County has said that the regulations will only apply to STR owners who apply for a permit after the application window closes, meaning that you should have nothing to worry about if you buy soon enough and then apply for the grandfathering during the window of opportunity.

This advice definitely applies. 

The capital stack especially in CA is VERY complex and typically involves everything and more that you mentioned.

Pay Down the Loan Faster:I’m considering applying $40,000 annually to the loan principal.