Extra fees and deposits chase off bookings and lower your yields substantially. 

     @Bob Gruenig, what @Chris Tracy may be trying to point out is that if you are creating a LLC and bringing in other passive investors into that LLC, your LLC may be subject to securities law.The easier option would be to let each individual come into the syndication's LLC directly. 

Keep in mind that some expenses are out of an individual's control.  

Just as a side note, that one of ten is enough to wipe individuals financially out if they flipped on their own, taking away all profits in the previous nine for all practical purposes. 

If you don't have water, sewer, and power at the property already, it will substantially limit how many units you could feasibility build even if 100% of the land was otherwise usable.

Some of the main reasons are that operating expenses, acquisition costs, and capital expenditures take a substantial amount of any would-be profits.

I am reaching out to inquire if anyone offers  mentorship programs for individuals eager to learn and grow in this industry in Ohio?

You mentioned having $230,000 in savings, which is a substantial down payment.

Because the condition of the building has deteriorated requiring substantial renovation she decided to stop renting it out after the last tenant moved 2-3 years ago.

Account Closed I would approach the tenants on either side of the vacancy and offer them the space at a substantial discount on a term matching the balance of their current lease.