It also depends upon what the investor is wanting to do with the note as well.

Check the states laws- depending on the strategy, you may not have to register.

Depending how long your LTR was in there, you might need to fix or update a few items. 

Part of the issue depends on what market your buyers are from and where they live..

It also depends how nice it is compared to the other options out there.

Depending on the state and even the county, the eviction process can be a nightmare. 

Jersey City is hot right now but like I tell my clients the majority of the time I can find them deals that make more sense in Essex County but that depends on the client and what their needs are along with their comfort level. 

Ensure dependencies are managed to prevent bottlenecks.

For a partnership where you're providing all labor and the broker is funding the deal, a fair split typically ranges from 30-50% for you and 50-70% for the broker, depending on the value and complexity of your labor versus the financial risk they're taking.

Also, beware that building in a location like that can be a very long process depending on where you're talking about.