I know the general populous wants to hear that all you gotta do is say "yeah, I wanna be rich" and it's as easy as just buying a property, tenants bow down and worship the LL for the opportunity to enrich them, governance awards them medals of service for providing housing, money flows like honey and all is well.....

Why chance them taking you to court and potentially having a judge award damages to them?

Your passive (silent) investors would buy common units and you would be awarded management units.

So the lack of inventory around the country is due to the moratorium The lack of no inventory in the middle of the country is due to a dispute in the awarding of the Asset Manager bid for the Denver region. 

A well know Real Estate Investor who is on Podcasts for both Bigger Pockets' & ConnectedInvestors.com, winning numerous awards for "Investor Of The Year" has completely gone GHOST on me!

President Biden is calling on Congress to enact an innovative, new competitive grant program that awards flexible and attractive funding to jurisdictions that take concrete steps to eliminate such needless barriers to producing affordable housing.See my post on Raleigh zoning changes to relieve 2/3/4-plex shortage regarding one city that anticipates federal funding grants for this purpose. 

Now there are awards that are actually impressive.

You could require Proof of Income - like a pay stub AND that order award letter. 

When we evict tenants locally here the courts won't award you late fees just standard rent, so my discounted rent isn't seen as a late fee by the courts either, so they award me the standard higher rent amount. 

This is a way to award/motivate the sponsor for solid performance.