The buyer then sends their EMD to the title company, and you specify to the Title agent that any EMD surplus balance is sent to you at closing.

Even then you would still need to actually go get the license and maintain it.   

For instance, I've reached out to cost segregation companies in San Diego that will base land vs building value on whatever split the tax assessors report shows which many times can be around a 50/50 split. 

I am considering working with a property developer in NJ to buy land, build a duplex/triplex and sell it (6-9 month time horizon).

I am an investor friendly realtor and all of my investors do section 8!

It's important to understand the difference, and I'd recommend sticking with the REIT with depreciation advantages.The Tax Cut and Jobs Act (TCJA) includes a 199A deduction and applies to certain income from pass-through entities (including REIT dividends) and allows individuals to take the 20% deduction against REIT dividend distributions that yields an effective tax rate of 29.6% or 37% (80% for upper bracket filers).

Invest and grow your portfolio.

They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

Thank you and God Bless!

And how did you find the deal?