They would create a Private Placement Memorandum (PPM) for you, and typically will create LLCs with operating agreements to support the business. 

So, if you're in the 25% marginal bracket and your state/local taxes are 9% (for example), you should keep aside 34% for taxes.That said, this is tremendously conservative, as your marginal rate will only apply to your highest amount of income (most income will be taxed at a lower rate as marginal rates are on a sliding scale) and you'll likely have deductions that will offset some of the income.So, if you set aside this amount, you should have some left over come tax time, but should also be good in a worst case situation.If you want to be more precise, fill out a 1040 with your actual income and deductions after each project and see where you stand.

For those bills that are non-static, you have to setup the auto-bill pay at that companies website portal, like a utility bill for example, so that it can auto-deduct the precise amount of the bill for that month... your checking account billpay feature wouldn't be able to know that non-static amount, but its perfect for your mortgage.

Advertising that you provide 8 to 12% ROI on JV is definitely a solicitation on a security.You can pay $60,000 and get a Reg D Rule 506 private placement exemption.

If you do not have what the SEC terms "a relationship" with these people you are technically creating a Security that requires you generating a Private Placement Memorandum (PPM).

You can go after non-accredited investors through word-of-mouth (no advertising) and you'll probably have to set up a private placement memorandum.  

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

A generic letter will get a certain percentage of response still but to push those numbers up you have to work harder and get more precise.

Here are some questions I asked my PM, which I am only using for tenant placement services.

However, investing in my local area is financially challenging.Eliott, I completely agree, and that's precisely why I'm reaching out for advice.