He is a successful professional musician, very smart financially, and he would like to start investing in real estate as well once things slow down for him. 

So, the notion of a 50% IRR driven by the incredible compression of Cap Rates is unrealistic going forward for the most part.Having said this, since we are talking about syndicated deals, which are a function of raising capital, the viable question is - how much return do we need to project so that the risk/reward is attractive enough to investors, enabling us to raise funds?

We'd like to secure an asset based mortgage on our primary residence (in the Twin Falls area), which would enable us to flip with all cash.

Also, another option is my wife and I are becoming empty-nesters this summer, and we could possibly rent out our 2195 sq ft current house in Eagle, move into this one enabling me to do a VA cash out refinance for the $85k (VA cash out refinance does 100% loan to value and no down or PMI), in which case it would only need to appraise at $85k.  

This will allow you to buy properties with that cash (quicker closing and sellers love cash as they know your already approved to buy) or at least put a good chunk of money down where banks wont give you to much of a hassle. that's just my 2 cents, I have 250k in equity in my house which enabled me to buy my first flip.

Parking is very expensive in Charleston so to have free parking on site enabled us to push rents.

. , I feel like you are not doing anyone any favors if you enable self destructive behavior. 

Amendment 1 was shot down by the people in Nov 2016 which basically enabled solar in Florida as a whole.

It enables you to have a master structure and create a new series for each new property if thats how you decide to structure your holdings.

It's what your comfortable with , in my case I'm a self learner or self taught , I just jump in the pool and swim and learn as I go , that's why I'm a great musician and in the entertainment biz  Many people are terrfied to do it this way but the benifets are that you can accomplish your goals extremly fast I just started in real estate in the summer and did'nt have a clue about the buisness and now 4 months later I'm about to close my first apartment deal with a partner in NYC.