I was told that the dilution of my original investment would be 21.8% if I did not participate.

Frankly, we would not participate in the voucher program if it didn't have above-market upside in year two and beyond.

or if you are an accredited investor participate in a syndication. 

Second, for you as a taxpayer you need to evaluate if your tax situation (e.g. property type, tax profile, material participation, etc.) will allow you to leverage additional losses generate from cost seg to optimize your taxes. 

Be proud that you were able to break into this market.

What information do you need in order to participate in this conversation.   

I found this quote that you posted:  "Also proud to say our quads and duplexes (which are rarely offered by other builders) have not only exceeded our estimates for rent & rent growth but value growth as well."

pretty small hurdle to have a good win as a private lender just get paid as agreed.now equity participation loans those can spin the needle pretty well ..

This leads to state funded insurance which will be very costly because only those at highest risk will participate in it and if the losses continue, they eventually will need to get the money from someone (rest of people in california?) 

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.