Or does the investor continue to pay the taxes annually for 3 years to capture the property?

The bureau only captures so much of a person's responsibilities.

Joe,the graphic below captures the kind of capital requirements needed to invest in hotels compared with apartment buildings and houses.

Gains/losses are only captured or locked in upon sale and I didn't have to sell it.

The area is attracting Michelin star chefs, etc etc etc you heard the developers sales pitch. 

To get close to 1%/mo gross from nicer smalls, I'd have to get good equity capture from a motivated seller and repurpose/ expand the unit count and or square footage.  

And yes, you could build the forms for lead capture too.

Having what I call "evidence quality" video and screen captures is key.

All you need to do is stay consistent over 6 to 12 months and express your intentions to raise capital from accredited investors (making sure you have a landing page to capture their information), you should be set.

When you hold a diversified portfolio you are not only limiting your downside and volatility risk, you are also positioning yourself to capture non-systemic returns that occur in other real estate asset classes and investment strategies outside of buying and holding multi-family assets.