Another tactic would be to invest in a fund that has residential debt as its primary asset class, this way you are a passive investor along side other investors and your funds are spread across multiple assets which helps to spread out the risk.

I’m curious on the structure / finance of a deal when there are multiple investors involved.

I’m sure your broker is not the happiest broker when one of his agents on a very rare occasion is more concerned about their immediate request for their commission rather then getting deals done and multiple ones at that.Perhaps, some concern and appreciation for the family moving into their new home.

5) What I am trying to do is to gradually receive the funds, but I'm not sure how to accomplish that.6) I have heard a suggestion to do multiple 1031s and receive a certain amount of cash year, but that would be alot of work since I would have to buy 90% of my current assets, then the next year 80% of my current assets, etc.7) I don't really trust the TIC and/or DST (Delaware Statutory Trust) type properties, so I tend to think of this as the most likely resolution.8) Since some of these properties are triplexes, some would be classified as residential. 

But he may be right as well. you should have gotten multiple bids before you started the project. that would have addressed your concerns regarding overpaying.

I am sure there are multiple things that can go wrong and will research.To piggyback off this thread, a question I have is will the 1031 exchange rules matter? 

Mini Lot Development - I'm still learning about this, but it seems possible to subdivide lots into smaller than normal parcels and build multiple homes on those smaller lots.

Does this mean if own a property with multiple units can I be excempt of the whole building?

The cost allocated overhead is divided based on number of units across multiple properties and added in.

NOBODY doubts that you are clearing $800-to $1,000 per month and I will say that having been to Hawaii multiple times I know it is much prettier to live there then probably anywhere in the U.S.....and that includes the SF Bay Area where i live now.