Also, from personal experience, i think there's merit in just trying things out.

Not based on merits.. track record is critical to raising capital and with out one.. pretty tough 6.8 cap is OK I suspect the folks your talking to.. probably think they just do it themselves what value do you bring other than you bird dogged the deal.I know syndication is kind of soup de jour but its  a very very tough thing to do starting out.. really tough.. maybe a high breed is something you want to do.. refer the deal on an you take a slice so you get something for doing it.other wise you need to have your own cash.. take it down then back fill with investors..

I'm trying for $150 a door but every deal needs to be evaluated on its own merits.

If this has merit... what would be a good combination of locations?

@Jay Shah All of those areas have merit.  

Well, whatever its merits as an investment, it looks like the coach house is not a good fit for me right now. 

The deal would stand on its own merit if said lot wasn't included, so in a way it's gravy. 

Your example is not without merit, but there are many assumptions built into your example that are unlikely to play out much of the time. 

I’ve heard this discussed on a lot of podcasts and even read a book about it, but haven’t come across enough details yet regarding some of the numbers to truly see all its merits. 

I see a lot of discussion around triggering the tax, and discussion around the merits of Solo 401k vs SDIRA, but looking for anyone that can shed light on their experience with paying UBIT.Thanks, Todd