However, for your scenario, you can take a guaranteed payment for the property management portion, then do equal distributions for whatever else is coming out.The guaranteed payment will be taxed as Self Employment Income and the rest of the distributions will maintain the nature of whatever income it was originated from (sounds like passive income based on your description)

From acquisition, to furnishing, to description, to what kind of linens you put in the place. 

Legit questions that makes sense are fine, but silly questions that show that you haven't read the property description won't help your case to be the winning offer. 7) Do Your Due Diligence First: If you're dealing with a pro on the other side, there is no way they are going to recommend the seller accept an offer if they don't think you've already visited the property and done some homework.

"Demo" is not a description that will carry if they decide that what they agreed to demo is different than what you expected - no matter how many times you told them during the walk thru. 

Here's a brief description of each that might help you figure it out.The site considerations are zoning (what's allowed, what you have in mind to build, and if you need to rezone, etc.), access to water/sewer/utilities (I assume there is access considering there are apartments next door), size and shape of the parcel, and topography.

Some QOZ funds involve a single asset and some involve many and are geographically diverse.  

While I understand this would not put me free and clear of a tax burden per "like Kind" description, I am trying to understand the calculation method.

Description: I would avoid the big blocks of text.

Here are the descriptions for state licensing requirements & exemptions: http://mortgage.nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?

@Carlos Joseph If you're looking around UT, are you just looking for that geographical area or for designated Student Housing?