Even if getting the permits winds up costing $30K, to me... it still seems worth it.Does anyone have any experience with something like this?

Ask how many units they manage and how much experience they have.

What is your experience? 

On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

My experience has always been better with a local lender.With that said, I am reaching out to David Greene's The One Brokerage about a refinance.

But by the way they perform Matt must over burden them with tasks outside their experience level.

I think 1) 10 years that includes recovery from GFC and the Covid pandemic is not a long enough duration2) I think for those 10 years, 100% is not that special3) I think many Midwest markets did not experience the appreciation you depict.There are Midwest markets that have pretty good long term appreciation but there are also many Midwest markets that have appreciation that has not historically kept up with inflation.  

Again, this is just my personal experience. 

Some ideas I've considered:Equity Buyout: Having another investor or my partner buy out my 40% equity.Seller Financing: Selling my equity and offering seller financing to the buyer.Selling the Property: Liquidating the property entirely and splitting the proceeds.Does anyone have experience with situations like this?