If it's just a money grab and there is no desire to associate with the aforementioned, you will most likely be on the losing end and feel very negative about the program.

I've head from others who went this route and had to pay before delivery which caused strain on capital because they couldn't complete draws in the same manner as stick built construction. 

I Would look to do as much of the work associated with the value add asi could.  

Do you have an associate I could speak with further.  

@Chris Kittle off the  top of my head does this helphttps://www.llcuniversity.com/wyoming-llc/

You can surely hire a PM for one property, as long as you feel like the costs associated with it align with your bottom line, and cash flow objectives. 

@John Clark hit it on the head.

You can just answer it without the jazz, and I bet you know a few places right off top of head where people WANT to live, right. 

I would think that local chapters of builder's associations would be a good spot as well.

They then decided to scale, hired Joe Namath as a spokesperson (I know, right there that’s the sign this was headed for disaster) and went around the country drumming up interest in investing in their newly formed REITs.