You're talking about programs generally run by the government as the operator of last resort because no one else can make enough money to make it make sense.

To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

There are more passive ways to invest in real estate than "turn-key" real estate and achieve those types of returns, but you will need vet the operators and get educated before jumping in.

I have some flexibility but rely heavily on my team for admin work and the day-to-day operations of property management.

When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.

They perhaps can build cheaper than you can, finance cheaper, operate cheaper and to get it leased up, offer things like 1-2-3 months free rent. 

Talk to other clients, go look at his current job site and see how clean it is, the quality of work, if the order of operations is making sense so far, etc.PS I'm a GC in the Nashville area and can take on a handful of clients in 2025 if you need me.

Cheers.Technically any bank can operate as an IRA custodian but they don’t all do it.  

According to the current and official Dressbarnwebsite, “REV” is the owner of Dressbarn: “Dressbarn is an online retailer linked to a former chain of women's clothing stores owned and operated from 1962 until 2019.

While it eats into cash flow, it prevents costly mistakes and keeps operations smooth.