After 18 months I still didn't have a building permit and decided to cut ties with the builder and forfeit my deposit. 

If I decide to cut ties, do I lose these listings?  

If there is no profit the GC will take short cuts and deliver a subpar product.

Fl is crashing be very careful 

Try to get a feel for the stability of the tenant's current situation and recent past.You will probably find a lower standard of care than you might apply to the property.  

I learned this lesson the hard way when I bought my first investment property off market.You need tenants who stay for many years, pay rent on schedule, and take good care of the property.

This is a garden home and the yard is fenced in with a 10 foot privacy board in board fence The neighbor stated it was making her violently ill and that it is a health hazard for her as it was coming in through her vents and or windowsshe has also been known to harass my last tenant, and sending us text that trees are too close to her home telling us that we need to cut it because there were branches over her skylight and she claims that it was scratching the cover. she called the city when the last tenant had to sell all of her items at an estate sale due to loosing her job and having to move from the property and cited that she was in violation of city ordinances due to not informing the county of an estate sale.

.- I don't care if the investment is less liquid vs. an ETF or REIT and I would aim to hold it for 5+ years at the bare minimum.Some other questions I had and would appreciate any advice:- Is an average minimum of 12-15% irr reasonable for syndicated deals ($10mm - $100mm) with an experienced sponsor?

Looks like you have a solid plan, compound interest will take care of the rest.Can i ask what mortgage product you intend on going with?

I advise to be very careful of who you have work on this project.