Comments again were : Quit Claim Deed the Property, start paying the loan (which he noted he had no money).

Chattanooga is a great market to start out in.

We intend to hold the property in our name for at least 12 months before starting construction. 

@Brad Kanouse I have an idea that doesn't involve drawing from your IRA.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

I don’t know when an LLC starts to pay off if you don’t have any partners.

There are programs to find solds so that would be a good idea but an agent can pull directly from the MLS.

I would say I have 5 people in my network that would be interested/capable of investing at this scale, and I am starting by reaching out to those individuals.  

You could start with your agent or a local agent who supports investors and could have contacts to refer to you.Lastly, you could consider negotiating with a local PM to take on a hybrid approach to management.  

If so, then you can start looking for another one.