It is more complex and has added requirements such as a formal set of books just like a corporation. 

I can't name a single state that requires the disclosure of insurance claims.

@Brady Bitter these funds have margin requirements. 

Texas law has certain requirements, as I'd assume most all states do.Do you have any links to the type of locks you have used for the front door, back door and door leading to the garage?

In your case of a fourplex, option 2 should get you a better deal.I would also agree with Bill on how the number of units may not correlate with the value of the property unless it is a large multifamily complex, and sometimes a fourplex or several single family houses would give you better returns. 100% We always recommend conventional first until you can no longer qualify for those. 

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

I have noticed quite a few posters lately that are requesting help, opinions, prices and information on their properties where a good answer would require either the square footage, the location or both....and they provide neither.

What would you recommend?

California law requires abandoned tenant property under certain circumstances to be sold at public auction.

You’ll have 45 days from your sale to identify them and you’ll have to buy enough of them, and only them, within 180 days of your sale to meet your 1.1M requirement, or face taxes.