@Tori Roy A couple red flags I noticed with this company that you posted. 

I definitely ended up passing on this "deal" based on the red flags.

For anyone considering this, it’s probably worth consulting with a local land-use attorney or planner to navigate the specifics and make sure you’re maximizing the opportunity without running into red tape.

On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?

I think Collin is being a little tongue in cheek with the Boone's Farm comment.I work with a local, large wine store, wait for their semi-annual sales when they compound discounts and buy 2 cases of each (white & red) for the largest discount.Basically I'm setting out wine that retails for $11-12-13 that I have paid $7-8 a bottle.  

Instead it looks like a sales pitch that is targeted to unsophisticated investors who are new to the space.If that's actually the situation here than these deals generally have multiple things I can't stomach and is an immediate red flag for me.2) AAA Storage growth: At one point I was interested in this sponsor because of the claimed full real estate cycle track record with little to no money lost.

(and be able to buy themselves a new Porsche with the proceeds)Just more Red Tape!

There are more serious red flags that come up during the screening process. 

Red Stick REI and The RING are the two big ones in the BR area.

You will always get more money listing it but sometimes it takes a bit longer wind has a little more red tape.