I am looking for creative ways to finance a small apartment development in Michigan. 

I was interviewing someone today for a marketing position and she is working for a company that were two IT professionals who sold a business, started a multifamily fund that is not doing well so now they are starting a ground up development fund for single family homes and another fund in commercial real estate.

@Michele RichardChicago neighborhoods and suburbs are ideal for rental properties and Building Reconstruction Redevelopment (BRRRRR) due to proximity to major development projects, affordable multi-family units, and strong rental demand.

So-- I've built a co-living company, that has just reached 10 properties and $50K a month in revenues.

The other reason why you would choose option 2 is that no investor would ever buy #1 and the bank might have trouble financing a deal where the revenue can be iffy.  

Greetings,I am partnering with a landowner to develop their land.

It explains the team that you should develop to have a strong foundation under you while investing remotely.https://www.biggerpockets.com/blog/core-four-real-estate-team

I still need to get more properties by using conventional loans and develop a more stable business credit before doing LLC. 

I’m currently working on 58 unit BTR development project and seeking one or two private debt investors to help fund it.

STRs sound like too much work to me.Portfolio income = stock dividends, interest income (from banks, credit union etc), Master Limited Partnerships (Form K-1), Business Development Companies (Form 1099), bonds, interest earned from investing in a real estate debt fund, interest earned from being a private lender