My contractor acts as a partner in my deals through bonus payments (as opposed to officially through an operating agreement) and is also a very long term friend.

There are people here who believe that 2% is not achieve-able in any neighborhoods where they want to own properties, there is even some consensus that at 2% you have a pure-cash-flow investment with any appreciation as an added bonus.

I am relatively new to Colorado and can use the exposure and knowlege.I am new to BP as well and I love it.

Yours have the added bonus of having a high demand 2nd exit strategy of selling to home buyers.

If I go with a REIT, my return every year is the same, but I don't get that bonus at the end.Am I missing a key component in this scenario?

At this point you need to understand that your perceptions on life are rather limited as your exposure to experiences and knowledge are not sufficient to decide what you will or won't do.

I'd like to leave next year after bonuses (Feb 2015).

Bonus: Is this a property I can exit quickly?

Their objection like yours is to get the deal closed because that unit he or she is receiving credit for is getting them one step closer to their coveted bonus.

The school district bonus is an intangible asset.