We just finished up our last project in OC and looking for our next flip, preferably single family.

Rest assured @Tre DeBraga you are NOW on the right path!

Learning that I prefer money invested in real estate over money sitting in the bank... don't we all?!

I have several clients who prefer the middle/southern part of the country so places like Memphis, Little Rock, Oklahoma or Texas.

Once the fund receives a capital commitment, the clock starts ticking on the preferred return (or at least it should), so they’re motivated to deploy that capital ASAP.

I'm not opposed to section 8 (I have section 8 properties) but I would prefer to avoid it for this one.

The returns that investors require is generally based on their perceived risk of the project and the investment period.With my CFO clients who do real estate development, most LPs in the small-scale residential space (SFR & 2-4 MF) are investing for 3-5 years and are looking for a preferred return of 8% with an IRR of 16%-18% for turn-key and 18%-24% for value add.

If you go RBTR, here are a few key criteria I've seen to assure comfort of living and lower vacancy / turnover:- at least 400sqft per tenant and no more than 2 tenants to 1 full bath -excess parking where folks aren't blocking each other in and you're not getting complaints from your neighbors about overtaking the street parking.

I take it from your comment that your preference is to Ground lease?  

We would prefer to jump into the market with a duplex, triplex or quad as our first purchase.