If I am reading correctly, they are simply supplying the money for the partnership. 

I would simply hire a good civil that has done development in that jurisdiction and pay for a feasibility study and let them run through all the check items.. but thats really just the start.. also for context .. these projects require 350 to 750k in CASH up front to get to approved plat status ..

If I were new I would simply stick to areas close to where I live.

I’d simply ask in what situations where the broker and the brokers firm did nothing to facilitate the sale do you think you should get paid a commission?

Many benefits to doing so. 2) If you are going to invest outside your area, the one thing I rarely see mentioned here is simply the "investment landscape".

@Mario Morales, to echo Bradley, I would say this depends on what you are lacking in your own knowledge base.To some (probably many investors) the agent is simply an initial filter for them.  

Post pandemic, the secret is out and investors can no longer 'simply' operate a nightly vacation rental in most cities and regions.

The combination of high costs and the after-repair value (ARV) frequently leads me to conclude that buying a new rental property is a better use of capital.

I think it’s a more recent consideration (maybe in the past decade or so based on my digging / anecdotal feedback) and perhaps some of you that have been in the business longer and simply renewing old policies may be getting a pass.  

So if the LP's have enough cash they simply pay the loan off and own it free and clear.. but the size of the deals are so large raising cash to pay off debt simply is not realistic at all so if the property goes into default your junior position investors find themselves wiped out.Further more thats why a debt fund like Chris has can be a good choice for the very conservative investor..