Quote from @Julian De la Guardia: Hey Tim,House hacking is not just a good idea; it's a fantastic strategy for someone in your position.

But ideally you don't tell us, you are just going to have agents pitch their city like @Julian De la Guardia & the sort.

With regard to the fees that is much less expensive than a Delaware Statutory Trust where fees can be upwards of 20% which is totally unacceptable unless you have absolutely no other options. 

I talked to 2 smaller syndications, both were seeking investors in apartment buildings, one was in Michigan near the Indiana border.

Hourly rates can range from $150 to $500 per hour, depending on the lawyer’s experience and the complexity of the documents.In New Jersey/Delaware Valley, the rates can be on the higher end due to the higher cost of legal services in these areas, with some attorneys charging upwards of $300 to $500 per hour.In areas with a lower cost of living, such as rural locations or states with a lower overall legal rate, the costs can be lower.It’s best to shop around and get quotes from a few attorneys familiar with private lending and real estate transactions.

The primary form of diligence we see on the forums is "what do you think of XYZ sponsor and deal" whereas the common form of diligence in the space by institutional investors, large investment groups, family offices, and sophisticated investors involves following the sponsor for years, underwriting the deals, validating rent comps, background checks on the general partners, and a host of other diligence that materially de-risks the investments.  

We aren't permitted to charge tenants utilities unless they're separately metered in Delaware

Quote from @Paul De Luca: @Rance SmithWow, that's nightmare situation you went through...Just curious, did you do a sewer scope inspection prior to closing on the building?

The border on the South side of our property is the Belize river. 

This is why in the "proper" construction world, the GCs have many meetings with their subs to de-scope the bid.