If you bring in passive investors, you could set it up where the equity gets a base return (say 10%) before splitting profits, then you, as sponsor, would take 40% of the remaining profit and the investors take the other 60% (in addition to their return of investment and preferred return).Depending on Oregon law, you may find an LLC to be better than an LP (or some other structure). 

Plus it should be much cheaper overall.The only catch, at least in my case, was that the commercial loan still required a personal guarantee - meaning full doc loan (bank statements, tax returns, etc). 

As a community i bet we would all crowdfund a project with a quick turnaround (3-6 months) in between our deals for a reasonable return (5-10% depending the experience of the developer)2.

Im looking at the lower streets the closer to downtown the better, Im looking for multi family basically something in a nicer area to develop a building for good rental returns...Do you have any good suggestion right around the half million mark, preferably with approved plansThanks!

What happens to the returns if you stop self-managing and are you okay with that as you scale or would you prefer to stay small and local? 

Fairview is ok. best returns are in Cleveland but boots on the ground are needed. much higher returns

Here in Virginia it takes the Commonwealth about 30 days to contact a taxpayer with a Virginia adjustment after the IRS adjusts someone's tax return.

That wont provide maximum returns, but as we pay off one loan ever couple years our cash flow and income from rentals increases greatly.

. … and your not doing tax returns for them or other accounting and such and your not on their loans with them etc.but I can see how @Andrey Y. 

@Ricardo Kendrick, is it now dawning on you that getting a (theoretical) gross return of 1.6%/m by buying any random property in that area might not be as fabulous an idea as you first thought?