Congrats on this venture - new construction (for the first time) is incredibly complex and exciting!

And may pivot to other ventures while leaving certain assets in place.

This will help us enhance our investment ventures and gain more knowledge about the industry.

I would venture a guess that the state of PROFITABLE is the primary importance.

Property managers can handle tenant screening, maintenance issues, and rent collection, freeing you up to focus on other aspects of your business or even new ventures.

Not so dissimilar from most note joint ventures agreements.

Just curious to see how people in this community started when venturing into the land and new construction aspect of investing. 

However, the enthusiasm for this venture is undeniable.

You can add more veterans to add more units but they may not want to tie up their entitlement into this venture unless it brings in some major profits, or else they can go acquire their own owner occupied 4 unit & make their own profits.I'd love to brainstorm more about this idea with you if you're still pondering it yourself!

Start with that, then if those don't work you can venture into the Hard money and all the other fun stuff.you can always consider bringing on a partner as well, you seem to be able to offer the time and research needed.