If you decide to do this make sure to plan ahead and track the income and expenses separately for each unit since LTR tax treatment is different than STR. 

Installed new garage doors, plan on doing other improvements as well in the near future!

Yes, I plan to.

They say their plan is to hold the properties for 5-7 years3. 

I was thinking your floors should be last so they dont get damaged while all the work is getting done.

Currently, I am planning to build single-family homes on those lots.Keep this business simple and focused on your niche.

I have a condo in Los Angeles that I plan to do a 1031 Exchange within the next year.

In the early stages, they will often email a business plan and/or hold a webinar describing the investment. 

I'm planning on moving forward with their latest deal, would be great to hear your experience.  

Essentially all of the planning, permitting and projections ready to prepare the project for development and then sell the property with the additional 12 unit entitlement to a more seasoned or experienced developer.