In any case, I thing your investment are pretty solid and should earn you something between a decent return all the way to a spectacular return depending on the local economic situation.  

I use this for tax and insurance which all properties have)Expenses (general business like admin/legal and by unit for repairs, trash, utilities...)EBITDA (earnings before interest/taxes/depreciation/amortization.

And really, any ARV over $800k is extra "cash out" for you. 

100% financing, no payments, financing in extra "cash out" money upfront so you can do a rate/term refi once you pay them off... 

It earns a great rate of return compared to a bank account and is fairly liquid.

You are not going to qualify for active and will not get any extra depreciation.

Otherwise, they have to eat the extra expense just like homeowners do.I would talk to an attorney and your insurance company.

You are trying to say you will use the " investors" to fund community programs, that sounds like a charity because there is no earning on the investment.  

The top producing agent wants nothing to do with a new out-of-state investor, they are local specialists who don't need extra business or time suck.

CA doesn't have an extra $30b/$40b laying around to do that, not to mention the additional billion to actually do the project to be build ready.