Regarding timeframe, each offering is different, and needs to be understood in the context of the terms of the debt and investment objectives of the Trustee on exit.That being said, generally DSTs can be acquired with hold periods in the 3-7 year range.Regarding due diligence, every investor should be able to understand the answers to these questions prior to investing: (*note: you can get all of this information on your own, but it will require information derived from multiple data sources outside of the sponsor provided Private Placement Memorandum)1. 

After 2 years, you would be able to determine what equity you'd be able to derive from the house from a sale/refinance, what you'd potentially be able to rent it out for and how much you'd cash flow, and most importantly in my opinion if you are able to find another property to put in the proceeds of the sale/refinance into and gain a higher return on investment.If the property is in a desirable location with strong rent growth and price appreciation fundamentals, and you have the ability to self manage effectively or have a good PM, I would lean towards keeping the property as a rental and potentially doing a HELOC or Cash out refinance to use towards another property.

All of my income in derived through investment properties, private mortgages and mortgage notes.  

I spend more than an hour to derive rent value, but I have confidence my value is close which is required for an accurate underwriting.

The appraisal you use will be a commercial appraisal with emphasis on the income approach with comparable sales used as an information tool rather than a way to derive value that's useful. 

No offense, but everyone has a guess and opinion, but would like to see what data can be derived from a group like this.

The only time I would be curious about CAP rates is when I want to sell.If you need metrics to measure the business, look at {M}IRR and the amount of return derived from operations (cash flow) versus asset appreciation (we model properties with zero, or negative, appreciation to get a better sense of the operational strength of the business).

The investment is :An investment of moneyIn a common enterpriseWith the expectation of profitTo be derived from the efforts of othersThe final option "To be derived from the efforts of others" is where the joint venture can get away with not being a investment contract and thus not held to securities rules.

RV parks are eligible for SBA if more than 50% of the business's revenue for the prior year is derived from transients who stay for 30 days or less at a time and the business complies with all zoning and other legal requirements.

That's one major way to detect class, and you can detect it by looking at sold homes on RedFin and looking at the sale metrics.Aside from $/sf, investment class is also derived from absorption, days on market, as well as demographic factors such as median income, age, educational attainment, and so on (demographics are much more speculative than market analysis metrics like $/sf, absorption, DOM, etc).I made my own tool to track these residential market analysis metrics for me, but since I only work in CA they are strictly for the Los Angeles/Ventura & San Francisco/Bay Area markets.