If you approach this correctly, you will have a professional advisor on your team to help you get the most out of this very powerful tool while operating in a compliant fashion.  

Hi Andy- In true BP fashion, I had some investors contact me and offer help- some of it very useful.

For a turnkey company to exist and sustain, they need a market where there is positive [monthly] cash flow and enough inventory to work on in a revolving fashion.

(Side note, I usually consult with my friends on important decisions, but when we first started real estate investing I actually lost a circle of friends over it, in a quite public and spectacular fashion, so now I keep it close to my chest.

I am old fashioned where I just have paper applications sitting there and they take them with when they leave if they are interested.

How you intend to attract investors (privately via a PPM or publicly via an offering circular under the new laws)Also, a "hedge fund" implies that you have a strategy that is counterbalanced in some fashion.

For these types of projects it is more common to have the land owner share in the control in some fashion.  

If I go in offering cash and the offer is accepted will it close quickly and in similar fashion as a non-foreclosure property?

Finally convinced by more than one friend (and slowly starting to get past my existential fear of debt), I am starting out in the world of real estate investing and excited to learn as much as possible from BP's resources/forums.I am a project manager for the library here in Columbus (after working in the fashion industry for over a decade in NYC) and looking at real estate for financial growth and independence for me and my family. 

As far as rent collection is concerned Im still collecting rent the old fashioned way via a check or money order from the tenant and its immediately deposited into an account via mobile deposit technology.