So, you can't simply trust them to handle things on your behalf and often communication is challenging especially if they choose to make it that way. 

What are you doing if they want to sign?

I want to start a separate bucket for house funds, but am not sure what to do/where to put this where I can get the most out of it in a few years.

I agree - it's a smart way to get into real estate—especially if you want to save on living costs and start building wealth.

Context matters, and there are steps you can take to protect yourself while still giving applicants a chance to prove their reliability.ALTHOUGH, still stay compliant with all of your states Fair housing laws, Always.

This allows us to consider the real estate cycle and determine the optimal timing to sell.

@Becky Hoffman If one member of the LLC does not care to have any claim to the property as you describe why can't the partner merely be removed from the LLC.

Extremely difficult to pass and I bet you didn't know that you had to get it reinspected again in three years.

Right now treating it as interest but would like to make it active income to do a solo 401k .

I would assume that you'd just simply sell each individual lot to the developer at a set lot price such that your cost to purchase the raw land and improve it to buildable lots was worth the proposed profit per lot.