Here is the email received"An internal audit has been completed for STR permits and our records indicate that your STR permit was issued in error due to exceeding the maximum 12.5% blockface density.

I'll be specifically looking to start in the Cincinnati, Ohio and lean towards targeting buy and hold single family and potentially multi family as well.Any advice is appreciated and I look forward to connecting. 

In that case, the GP, who was a cheating SOB, issued a K-1 allocating cap gains [§1231 gains] to my Client, who was a minority LP.  

The rehab expenses don't line up but they are not stealing, I would suggest having a zoom call or sit down with their PM or account manager to see what is not lining up and where you see issues compared to what they have on their sheet. 

Insurance is definitely an issue there, and will continue to be.

What if something changes with how that platform works?

@Ashish AcharyaYou're merely reproducing the IRS position, the one I specifically challenged.

If the drywall cracks in the next year or two, or the doors start to stick, then you likely have a larger settlement issue going on, and will likely need to call a foundation repair contractor. 

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

Having a rock solid SOW can prevent many of the issues that arise during any project.