We use private lending to finance the purchase and construction of this home.

NMLS does not regulate private lenders.

or3) If I convert the partnership interest into a private UPREIT, then I trigger tax if/when I sell the Shares in the REIT?

Like @Chris Seveney said, private lending is a great way to go as well.  

He has since refinanced and cashed me and my private lender out.

Feel free to reach out and we can chat about private lending.

Our community is actively identifying and investing in off-market deals, sharing the cost of virtual assistants and direct mail, sponsoring deals, investing our own capital, and having multiple group calls and webinars every week with institutional analysts, real estate and SEC attorneys, regional banks, private lenders, and other experts specifically to discuss and analyze deals within the community.

The problem is that there isn't a lot out there, and when looked into each comp extensively, I saw the numbers were deflated because they were 'as-is' properties with extensive damage, or properties with a well, and other mis-matched differences.

Building a real estate portfolio might be attractive, but if you're crunched for time, perhaps you could do private lending in a SDIRA or get into syndications.

That being said, while the intent is that most investors in a 506(b) offering are accredited, the sponsor can accept up to 35 "sophisticated" investors into the offering and still be within the rules.All told, private offerings are 100% a buyer beware investment.