Pace's "community" will get you into trouble if you ever get audited/sued.

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(And even then, they only really look if you are audited)Just start renting! 

While this can land you in potential audit risk, I think you're in the clear here. 

This level of transparency will allow for very clear auditing by any member of the Investment LLC, as to what the construction owner is clearly profiting on the project aside from hard costs of the project.

With the tax return you file send a cover letter to the IRS requesting an audit. 

Im sadly here to tell you that under audit, and we have 100s of court cases to back this up, that this WILL NOT FLY.

But if you have commercial type loans, you may not have much of a choice and HELOCs do not count when you are under audit.

It's not common (because audits are rare), but this type of reclassification does happen and is messy when it does. 

I have CPAs for tax questions and taking care of the LLC returns, as well as for any "random" state audits of the LLC (which do happen - they claim they are random, but they are looking for LLCs not paying state unemployment taxes).That's all I have needed for over a decade of being a part of multiple different business ventures.