Hey Michael, My understanding is in a preferred equity syndication, utilizing qualified funds such as those from an IRA or 401(k) can trigger Unrelated Business Income Tax (UBIT) when the investment generates Unrelated Debt-Financed Income (UDFI).

If some funds are available, is the standard 25% down 30 yr fixed loan optimal or would you recommend different financing?

If the tenant breaks their lease after three months, you are obligated to find a new renter, only charge the original tenant for rent up until the new tenant takes over, and then refund any unused funds.

I am leaning towards as-is due to the lack of funds in my current situation.

I can self-fund  most of this, but I'd prefer to have it levered. 

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

You are better of funding the fix and flip deals with a HELOC and refinancing with a DSCR loan . 

Do you have reserve funds to handle things that come up?

There is funding out there from the city and other associations.

I am happy to discuss if you're still interested in funding new construction projects.