I don't have any real world experience at this time so I won't pretend to know, but I will be following and learning along with you. 

Quote from @Grant Shipman: Hey BiggerPockets Community,If you’re raising capital for real estate syndications, you need to be aware of SEC regulations—because one wrong move could put you in serious legal trouble.Many new syndicators think they can just start pooling money from investors without following the proper rules.

Follow your numbers not emotion.

We are considering the following options:-I purchase the property from my aunt – Perhaps we can do seller financing to reduce fees?

For their three-year, 12% option they give an example of a $1M investment with the following preferred returns:- Without compounding: $360,328.77- With compounding: $431,237.45Taking 12% disbursements over 3 years on $1M would be $120,000 per year, or $360,000 over 3 years.

Kim following for the answer on Debexpert.  

This is partially because we lose the OTA protections and partially to make sure we follow the same procedures for all residents (fair housing laws are important to follow). 

Then, you send them a letter and do a follow-up call. 

Not sure how one would make money on this. they are following the buy high sell low concept of investing. !!

StatuteYear=20...There should be a section about the lien and deed process that each county has to follow.#3.