Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.

To avoid reducing your lifetime exemption, you could gift equity incrementally, but this requires proper legal structuring (e.g., fractional ownership transfers).

I don't know what his minimum liquidity requirements are to join.

Any recommendations for starting strong would be appreciated. 

Water is a lienable utility here so I would minimize putting the bill in the tenant's hands unless you're certain that it will be paid.If you need a plumber in the Wilkes-Barre area I'd recommend Billy Smith of No B.S.

.  --- From the zoning code it says, an RM-2 zoned lot can have "1 unit per 2,500 sf. of lot area"If you don't meet that lot size requirement you'll need to make a request for a variance, then post notice about the desired change in front of the building.

@Brady Bitter these funds have margin requirements. 

This is prime real estate, and is just about the last piece of land in this area.I have begun to develop a commercial property that I own with contractor garages, which is the extent of my experience in this space.I'm trying to get a sense of how to structure something like this, with using LP's, and also partnering with a builder, and carving something out in that regard.Does anyone have recommendations on who is currently working in this space and could provide some insight?

I suspect without the 2 pts I would be at ~6.625% to 6.75%.What I recommend most is accurate, conservative underwriting.  

Can anyone recommend a HELOC lender for a SFH investment property in Los Angeles, CA?