My somewhat unique situation is that I have low reported income due to the structure of my investment accounts, yet I have access to meaningful capital.

What is the selection criteria for investors to which you will pitch these investments?

SPOA is an organization that I support. https://www.spoa.com/ Now I am very very careful when selecting tenants. 

If they don't approve the project, all the time and money spent chasing it yields no return.3) Market Risk: The market can change during the entitlement process, which can also work in your favor like it did for many Developers in 2021.That's why knowing your municipality, understanding their processes, and making wise decisions in selecting which projects to pursue are crucial.Success in development requires choosing the right projects that 1) meet your criteria and 2) have a promising path to approval.The good thing is that this risk is compensated by having a higher return.

My wife and I are new investors with identified deal flow, a selected strategy, and have done a ton of research.

If you have a class C plus or maybe low B area, you can screen to select the best or top end of tenants in the program. 

Any thought on this very unique situation?

You want guests who you find elsewhere that see a decked out theme home and think it's the most unique thing ever, and don't know there are 5,000 others just like it charging less.

No kidding.. each Jurisdiction is unique..

@Maria Jeanette Using a self-directed IRA (SDIRA) for real estate investment offers control over asset selection and tax advantages, such as tax-deferred growth (Traditional IRA) or tax-free growth (Roth IRA).