It is simply a return threshold that needs to be hit before the GP can share in any profits above that level.  

I'd also imagine there is likely a way to get the land "data center build ready" for lack of whatever the technical term is,  and then sell that if you didn't want to do the full build.   

As of my last update in April 2023, the definition of an accredited investor includes, but is not limited to, the following:Income: Individuals who have had an income of more than $200,000 (or $300,000 together with a spouse) for the past two years and expect the same for the current year.Net Worth: Individuals with a net worth exceeding $1 million, either alone or together with a spouse, excluding the value of the person's primary residence.Insiders: Directors, executive officers, and general partners of the company selling the securities.Professional Experience: Certain professional certifications, designations, or credentials or other credentials issued by an accredited educational institution may allow an individual to be considered accredited.Knowledgeable Employees: In the case of private funds, "knowledgeable employees" of the fund are also considered accredited investors.Institutions: Banks, partnerships, corporations, nonprofits, and trusts with assets exceeding $5 million.By imposing these criteria, Regulation D is meant to ensure that all participants in such an offering are capable of fending for themselves or sustaining the risk of loss, thus requiring less regulatory protection.Under Rule 506(c), it is not enough for an investor to simply claim accredited status.

I hope you enjoy small towns that lack diversity.I am sure Dayton has some real estate meetups.

I found simply raising rent to the max allowed is better than an eviction they move with out all the fuss  :)

I see some of the states that are still stuck in the 1800s using title abstractors taking a week two weeks.. the folks that are local simply dont know any better as its just SOP for them.

If you are simply return driven and risk-averse, then it's not a great fit. 

The quaility of old existing units, and the ability of the long term population to pay new rents, blended with an influx of small high end mill conversion units is simply not balanced.

Almost all DSCR loans will have either A) a prepayment penalty which prevents you from selling or refinancing within a given period without paying a cost, or B) a combination of higher rates and points to offset the lack of a prepayment penalty.

What I'm seeing in the industry as a cautionary tale for you is that simply the reputation of the company is not going to necessarily carry the day.