Hopefully other experienced BPers will chime in with their opinions but, fortunately or unfortunately, the best way to raise funds is your W2 job. 

Fortunately I don't have a tenant yet so I'll have the opportunity to disclose the future build ahead of time.

Fortunately my uncle has a near by property and is willing to rent it out to us.

There is an enormous demand for medium (and longer short) term stays in many markets (business/project travel, relocation, leisure, military/government, medical, university, or residents who simply want convenience) and the apartments don't want it and traditional hotels are a fortune because of their bloated, inefficient cost structure. 

Even if I didn't maximize cash flow on it (fortunately we surpassed expectations), it was better to get started than continue waiting on the sidelines.

Fortunately the majority of the units are occupied except for one. 

Kindly,JonGood morning Jon.Assuming you have the means/ability to proceed with a larger MF property, it comes down to if you have the good fortune to connect with a rare breed of highly skilled real estate agent that can not only do the leg work, but can help you get the best possible investment and turn you away from risky pitfalls and hidden deferred maintenance or other issues.I'm a highly experienced and skilled real estate agent and investor, and I use real estate agents when I'm investing in an area where I'm not an expert.

(Fortunately, we filed as 1065) Or can I define it in operating agreement?

He has called the police several times to sweep the apartment and fortunately, they took him to the hospital yesterday.Both of his housemates are out of town and I live on site, so I know there isn't any truth to what he is claiming.This tenant has been here for 8 years, loves the place, pays rent early, and takes great care of his unit.

We were fortunate that we discovered this before we signed, but are very bummed.