@Zachary Cummings, sweet thanks for the quick reply.

because everyone want to buy on the same complex, condo is cheaper than SFR.

Which is very strange as other condos in the same residential complex got sold, even the ones that got listed after my listing and priced more than my listing.I finally gave up trying to save some money and reached out to a realtor (with traditional fees) and he informed me that I need to cancel the contract with the Flat fee service first.

If you don't split the lot, then you're essentially making a horizontal condominium complex. 

I happen to be a commercial AND business broker so I understand the complexity you are facing.

A one-unit rental could cost an investor as little as $30,000 while the cost of a multi-family building can go well up in the millions.At first sight, it might seem as though securing a loan for a single-family property would be a lot easier than trying to raise money for a million-dollar complex, but the truth is that a multi-family property is more likely to be approved by a bank for a loan than the average home.That’s because multi-family real estate consistently generates a strong cash flow every month.

There are some states that offer some valuable benefits such as charging order protection, anonymity and extensive case law for their industry.I think these benefits are more valuable to higher net worth individuals and/or larger entities.There are costs for these complex entity formations.You may want to weigh the costs of these entities versus other forms of asset protection(Insurance).Consult an attorney and an insurance agent.Best of luck.

I am not as familiar with the details as Chris is, but as far as structuring it - Since it sounds like you have private money lenders, what I would do is take my criteria that I use ( Mine is cash flow $500/month per property passively, with the goal to sell my portfolio in 5-7 years and buy an apt complex) then give them as much as possible - so for me I need the $500 + equity in the property. 

Never buy a property that sits next to a school, a busy street, a retail plaza, a church, a high rise apartment complex, etc.There are a lot of things within your control when you buy a deal.

The government is facilitating a low cost alternative to public offerings that would make most syndications not viable.Private offerings are the wild wild west of investing with no audits, filing requirements, little regulation, tons of inexperienced sponsors, and lots of complexity.