We got out of condo conversions couldn't really sell any of them and transitioned to ground up development of single family homes and three story walkup triplexes on a build to rent model which is much easier for us to manage and our exit isn't a sale it's just a refinance. 

Once you start hiring employees, it's smart to develop it out so you can train them properly and so there is a documented reference guide.

Developers have been on a building rampage for the last 5 years, so we've got brand new apartments sitting vacant and properties less than 50% full in many areas of town. 

If anyone does this, theyre likely doing it as a favor and not a for-profit venture. 

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

I have property in three out of four of those counties including one SFH in Madison, one SFH in Limestone on 20 acres that's being developed to a MHP slowly, and one existing small MHP in Morgan County. 

Speak with the director of development (they're not always titled that way, so just ask for whoever deals with area developments, new construction, rezoning, etc.) to ask if they'd be supportive of your plan.

Am excited to venture into wholesaling and I've been educating myself on terms, technique, and form of going about it. 

This is not my area of expertise, so wise people on this website will likely tell me not to venture into this!  

We're not aware of anyone that's made a purchase from them work in over 3 years:(Most of the incentives in Detroit are targeted to owners that will live in their home or developers targeting large projects.