Obviously there is risk involved (as with anything).

., the 2006 or 2009 IECC — International Energy Conservation Code).Cost Considerations for a 90-unit or 112-unit Project:The actual cost of qualifying for the 45L tax credit depends on various factors, including:Energy Efficiency Compliance: The primary cost will come from ensuring that each unit meets the required energy efficiency standards, which typically involve energy modeling, certification from third-party energy raters, and potentially upgrading insulation, HVAC systems, windows, and other components of the building to meet the necessary performance levels.Energy Modeling: Typically, you'll need to pay for an energy consultant or engineer to model the building's energy performance and ensure it qualifies for the credit.

HOA management for a bunch of peripherally involved out-of-town investors is probably a great opportunity pass along overpriced contracts to your local buddies. 

I personally have no connections with anyone who is involved in this niche and I'm wondering how other people have started their journey.

It might be overpriced or might be correctly priced but is not generally desirable because of the work involved. 

There are some people that get lucky and earn cash quickly, but they generally hide the fact that it was pure luck or how much work was involved.

Again, there's time and cost involved because they are unlikely to get everything.4.

Whether it's considered an arm's length transaction is debatable, but it's not illegal.Move forward with the sale and ensure full transparency with all involved parties, including your CPA.

Encourages Larger Investments: By offering higher returns at higher tiers, you incentivize investors to allocate more capital to your projects.Builds Long-Term Relationships: Investors appreciate being rewarded for deeper commitments, which helps foster trust and repeat business.Scales with Your Business: This structure can align with the complexity or scale of your projects, ensuring that you have the resources you need while staying competitive in the market.Key Benefits to InvestorsSecurity: Deals can be secured by tangible assets, such as a deed of trust or promissory note, providing peace of mind.Flexibility: Payments can be structured to suit the investor’s needs—monthly, quarterly, or upon project completion.Attractive Returns: With returns starting at 15%, investors often see better yields than traditional investment vehicles, like stocks or mutual funds.How We’ve Implemented ThisThis structure works particularly well for our large renovation or development projects where multiple investors may be involved.

who are involved in wholesaling or other real estate ventures.