If you're an accredited investor able to meet the minimum commitment amount required by the fund, I have to imagine you have access to opportunities that are more favorable to you as an LP.

Are we required to pay FICA tax on the deferred income? 

Your ability to qualify depends on income, credit, and lender requirements, but leveraging your equity makes your request more feasible.

In addition, the Grantor will probably be required to sign the same seller's affidavit that are needed for a non DIL closing. 

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

Is it right that short term rentals are considered as licensing the property for use (similar to a hotel) and not a lease for a long term rental and therefore do not require a brokerage license to provide management services that include price adjustments? 

Just to clarify, when I say timeline dates I don't mean just "project to be completed by (Date)"That's required by FHA/Lender, but in my 20 years of construction experience not nearly what you need haha. 

This of course can be scaled up as well for better profits, if you have a 1 acre lot, you can probably fit 2 buildings with 4 units each (depending on zoning requirements), or 4 buildings on 2 acres and so on.

Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing.

You prpobably don't care about Ohio, but their requirements might be instructive.You can only file January 1 through March 31.