I will be responsible for securing the debt, finding the contractor, performing the work and getting the units rent ready as fast as humanly possible.That being said, I just want each of us to make an equal investment, receive equal cash flow, capture equal equity at exit and maybe add an equity sweetner at the end for the other partners who are teaming up with me for the first time. 

This structure will let you capture the capital gains on the land thus far without it triggering capital gains taxes (assuming you don't trigger any of the limitations on the sale of your personal residence, or the gains are more than the exclusion). 

To the extent points are being captured in the Cap Rate you're actually skewing the cap rate with your leverage, which kind of defeats the purpose of that metric.Since the goal of Cap Rate is to provide a quick and dirty view of the risk/reward of a property.

Looking for any feedback on my analysis of this deal captured below? 

I believe the LOI is a great method to capture a certain level of formality while serving as an ice breaker to start the conversation with the seller.  

However, Buy and hold has definitely captured my interest and I feel like out of state at least in my case is a better way to start out.

@Tony Hoong @Ashish Acharya @Jay HinrichsQuick addition: You must invest through a US Treasury approved "Opportunity Fund" to capture the benefits of this program.

This should give you a good idea of what the homes in the area are selling for, and what finishes are being used to capture that price.

Flooring - Using laminates to capture today's trends can cost of fraction of hardwoods.   

. - Even though it goes straight to voicemail, Godaddy still captures the number that calls and I can further market to them if they dont leave a voicemail.