That being said, you could be the individual who helps identify this respective vendor.

Wanting to incentivize/help those of retirement age to sell who won't sell/downsize because their new smaller home would be at a higher interest rate. 

Remember, if you decide to sell in a few years, any bonus depreciation comes back as ordinary income. 

The tax is based on selling price minus purchased price.

“You may not be able to sell any of your shares back to us, and if you do sell your shares, you may not receive the price you paid upon subscription.”That's quite a bit of research.

Not going to kill it on the rental income, but if you sell it subject to, there is a lot of equity.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

I'd consider renting for a period of time and identify a particular area you'd like to eventually buy.

You sell after 12 months and take no depreciation expense in the first year.  

One of the biggest challenges today is the reluctance of homeowners to sell, which limits the available inventory.