I suspect $100k will be at least $20k short if your permits and fees are accurate and not doing owner builder.   

That will pretty significantly reduce the net taxable income amount.The net taxable income is then run through the trust tax table, which actually tops out at 37%, but on a graduated scale.Your vague "profit" number makes it impossible to provide an accurate representation in this scenario, but I suspect the net taxable amount would be considerably less than how you are evaluating this.

I know about the 70% rule but that's not always accurate in certain areas.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.

If it isn't, then the amount they are charging is accurate.

My assumption is either they moved out before the eviction was finalized or they paid whatever money was due and the landlord dropped the eviction, would that be somewhat accurate explanation of how this "dismissed without prejudice" would appear on someone's record?

You want free and accurate tax advice from complete stranger on the internet

Is this accurate - any way around it?

The structure we landed on was as follows:- Fixed Builder fee of $300k (each project varies but are 2-6 units, and 5,000-9,000 total finished sq ft)- Fixed Return on all my initial capital invested of 50% (plus return of 100% of initial capital)- Remaining Profit Split of 60/40 (60% to me, and 40% to him)I understand a lot of this hinges on how accurate the proforma is and how close we can get to actually hitting our development costs estimates, build cost estimates, and sales per sq. ft. estimates.

Almost all builders can do the development work for you, but that's a unknown cost and nobody can give you an accurate quote without studying the site.