Are there certain types of properties that I should target and/or avoid for a better outcome when it comes to the cost segregation study….Large Condo Assoc/Small Condo Assoc/townhouse/SFH?

These types of loans are approved based on a proforma and plausibility.

Be intimately familiar with it or find someone that is. 6.Buy umbrella insurance to CYA. 7.If you do not hire a Realtor and are not familiar with contracts, hire a lawyer to look over.8.Make sure your credit score is good and you have liquid assets for more than you think you need. 9.Talk to an investor friendly lender to get familiar with the types of products. 

You have to go to the court online docket and physically type in their names to check for records.

Even if they are all good, they will find someone to blame, and you are an easy target since you did that work without permits.Then, as @Bruce Woodruff stated, are you going to be aware if your contractor doesn't do everything to code (# and type of outlets, smoke/co det., proper egress, etc).

However, if it is a self-directed 401k plan, then you have more control over the investments, and there are no limitations except for a few types of prohibited transactions.

What made you interested in investing in this type of deal?

She is not the type to pay rent and has always paid late and late fees.

Essentially, I’m buying out my partners and transferring the lots to my own LLC.1.Do I need a purchase and sale agreement for this type of transaction? 

Make sure you have someone you trust running the numbers with you, and if that someone is a mentor or person that is very busy offer to bring them deals, pay them for their time, or bring some type of value to them (work for free on other things they are not good at and you are).