In theory, you should only be considering the strongest of markets, buildings in the best locations, with high demand and high barrier to entry for new retail developments.

That said there are certainly areas where supply is already highly constricted and it can push good people out.

@Kunal Lakhwani I would recommend talking to @Grigoriy Gorshteyn about management too.

Site prep and permitting fees are not cheap.

Hiring an attorney to look at the documents is a good idea but doesn't come cheap.I would recommend googling things along the lines of "Evaluating passive real estate syndications."

The reason I went with UDirect is that I need one fairly quickly and they were recommended by a fellow member here.

@Drew Sygit Thank you so much for the recommendation! 

I don't have personal experience with this kind of land trust but since you're in CO I have a personal recommendation of a real estate attorney here in CO who has helped me with seller finance deals and is very responsive and has been great to work with in general - Jeromy Geraghty - https://www.geraghtylawoffice.com/

You make some hugely general statements that are highly suspect (length of tenancy in rent control units, and that blue states policies are not necessarily anti landlord) - both of those are completely opposite of my experience and those whom I speak with about such things.  

. -- A license is not required for:(4) an agent of a licensed real estate broker or of an owner of real estate while managing or leasing that real estate for the real estate broker or owner;Attorney P's interpretation - Therefore, property owners can directly hire non-real estate brokers to manage their rental properties.Attorney P's Recommendations - You can either file as a foreign entity doing business in MD or start a new business in MD.