Thanks Blake and Kyle...I heard back from Cozy and they said their revenue model consists of making money from charging for screening reports, collecting 2.75% from tenants who pay with credit/debit cards and the $2.99 per month per unit for quicker deposits. 

Today the ranch consists of approximately 535,000 acres, and is recognized as the largest ranch in Texas under one fence.

I should have made it more consistent and easier to understand.

My program for my clients models the "BRRRR" strategy and we are having a ton of success with ROI's in the mid-teens on a consistent annual basis!!

@Brian Slater, You're right in identifying the consistent tax payer carry forward as a 1031 issue.  

(still shopping) 150K Private Lender(s) - 4.5% Interest Only120 Cash from UsThis consists of 5 properties/12 units, all very well maintained units in great locations less than 20 years old.We are doing this primarily for long term wealth building over cash flow, at least until about 10 years from now (retirement time).

It may be easier to invest with them since they are local but maybe it could be easier if you build your local team consisting of a few GCs, property manager, and lenders.

My day job consists of being a Product Manager with a large technology company, focusing on helping other companies define their cloud computing strategies. 

Some points about me and this property:- it consists of four 1-bedroom apartments - rented to young professionals- this is B property in a B neighborhood - current rents are $2300 ($550x3 and one $650 - the $650 is the newest tenant and the apartments are identical - so it sounds like the rents can be increased in the other 3 upon lease expiration)- it's listed at $139,900 and has been on the market for about 3 months- my calculation on this property is based on full asking price and current rents- The COC ROI is misleading based on the way I did the inputs -- the only cash out of pocket will be closing costs which I've been quoted to be about $7000  out of pocket. 

In my example above, my deal consists of me taking $25,000 out of my 401(k).