Curious to know if someone has any advice on putting together a pro forma for development based on the scenario below.I have a fellow investor who owns 50+ acers of undeveloped land in the South East.

In regards to that pro-forma, it looks like it's in the negative.

Should we form a general partnership and apply for the loan as such?

It's easy to create an overly exuberant NOI, insufficient due diligence to disclose ALL the true expenses or by quoting Pro Forma rents which are unrealistic for the property.

You could potentially form a company and offer shares under a regulation D 505 offering, but it would need to be under $5M in any 12 months, and you need to have 35 or fewer non-accredited investors who need to receive disclosures generally similar to those of a registered offering.

I was curious if there are any strategies that you all use to help limit your tax burden by deferring taxes to when they are, years down the line, used for personal reasons.Is there a way to avoid paying personal income tax on the cash flow generated from a buy and hold strategy if it is reinvested into more property/debt repayment/capital improvements or does that have to be rerealized as income tax if it is not in corporation of some sort.AND if I were to create an LLC to hold this property within the LLC would there be tax liabilities for any of the cash flow generated even if it were reinvested directly into the business.Thank you to everyone in advance who can help me begin to form a long term strategy!

Well then here are some stats from the analysis I did on it.Monthly Income:$3,555.00Monthly Expenses:$2,636.03Monthly Cashflow:$918.97Pro Forma Cap Rate:12.15%NOI:$21,566.00Total Cash Needed:$45,500.00Cash on Cash ROI:24.24%Purchase Cap Rate:13.07%As I stated in the first post, this assumes rent of 395/month.

To clarify, I'm obviously just starting out and attempting to educate myself to form a plan and figure out what that plan should be.  

For the "Independent Study" course I am currently enrolled in, I'm evaluating a large acreage property from the perspective of an investor (assessing possible income-generating activities, determining development opportunities, constructing pro forma's for each scenario, etc.) with the help of the property's brokerage firm, my professor, and a few external sources who were kind enough to help out.Some information about me: From Georgetown, TexasGraduated from Texas Tech University with degrees in management and marketingI enjoy flying, and I've been a pilot for about 5 yearsI'm an avid outdoorsmanI plan on becoming an accredited land consultant at some point in the futureI'm open to any and all suggestions/advice/information from the BP community and I look forward to hearing your thoughts!  

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