1.Is there an interest reserve and is it funded entirely by borrower at closing or is it capitalized into the loan? 

I've head from others who went this route and had to pay before delivery which caused strain on capital because they couldn't complete draws in the same manner as stick built construction. 

If Costa Rica gives more capital gains like you suggest (which I doubt given how pricey it already is), he's going to get them with his own property and he'll ba able to take advantage of it without needing anybody's consent.I think the question is whether you can lure a lifestyle buyer into seeing it as a better opportunity than if he'd own his own property. 

In our market, it is probably a bit more desirable to go after smaller multi and of course it depends on the capital you have.   

I usually take some of the recycled capital and buy a note to pair it with. 

Plus, you'll be higher in the capital stack in debt.DST's are basically managed funds, in my opinion. 

I've been interested in real estate investment since college but I've either been without the capital or without the confidence to take the first step.

Would the federal tax liability be $140k at year 5 for the sale, with long term capital gains (ignoring any Net Investment Income Tax)?

I would also like to know as I just found Norda Capital. 

Deferred capital expense looming?