Great layout and property grounds (personally, I like simple 3/1 or 3/2 ranch boxes)4.

Get pre approved ASAP so you can start looking at your buy box

It’s not just a box to mark. • Bonus depreciation is not a “one price fits all” exercise (the price may vary by asset)• Active or passive involvement is not a joke to the IRS (and you need to TRACK this, not just claim it).• Depreciation recapture is real.

Generally, you do not want the county to inspect and tell you what is wrong as you may open a Pandora's box of fines and fees.Some people just punk ADU's  in and don't worry about the permitting but that approach may open you up to legal issues. 

Also, if you search "crestwood" in the search box to the top right, then click "People" on the left of the resulting page, you'll see nine other members of BP from Crestwood, KY.

My opinion is to call the seller's bluff and let them close with others if they're unwilling to allow you to get the boxes checked you need to check.  

For instance Cash Flow: 7%pref non-compounding with anything above that split 50/50; Proceeds: LPs get 100% investment plus any pref shortfalls back, the GP gets 100% of their investment back then balance is distributed 60% LP - 40% GP.Make sure to include enough of a asset management fee in the expenses so that you don't starve during the life of the project, neither you as GP or your LPs want you to go out of business midway.I would definitely get professional help structuring and modeling your terms to make sure you don't box yourself into a corner where you make nothing or worse get sued by your investors.

I personally shy away from most big box store paints.

So the box Vinyl Village type homes is the current build (mixed in with townhomes, duplexes, quads).Now back to your 10% Cap rate this is why most international folks are going to get burnt and other folks will as well.

When I started I spent a ton of time in big box stores picking out materials and pricing them out.