The TREC contract form (unlike the TAR form) is a public document and can be used by anyone, not just licensee's. 

In Publication 527 the IRS defines improvements as something that “adds to the value of property, prolongs its useful life, or adapts it to new uses.”

If a more reasonable amount of time was offered, a better approach would be to allocate some to public REITs, some to private syndications, some to directly owned properties in prime locations and the rest to active business ventures.

Also, here is a link on some info about UST's in New Jersey:https://www.nj.gov/dca/divisions/codes/publications/pdf_bulletins/b_95-1b.pdf

Provide every tenant a copy and post them in a public place so they can always find and reference them.

If you do have the money, you have a choice to buy this opportunity or not.Essentially, all Investments are a risk.HOWEVER, the more research you do, the more you can reduce that risk.If you do your research and you find out that the adjecent neighborhoods have Gentrified and that they are NOW spilling into the Flatbush area AND you have noticed that the City has invested in public transportation (they opened up a new subway station in the Flatbush area), you can make a fairly intelligent guess that the high price will only get higher, recognizing it as an opportunity.However, if your research does NOT indicate that this property will be at a higher price in the future, and you do not buy this property, you can't get lucky here and have to look elsewhere.Now, let's say you recognized the opportunity AND you were prepared and you BOUGHT this 3 family investment in Flatbush.10 years later, that $1 Million purchase you made in the year 2020 is now worth $2 Million in 2030.What do you think your friends and family would say when you tell them that you bought your 3 Family Flatbush property for $1 Million 10 years ago and you made $1 Million in unrealized profits today in 2030?

Are you familiar with Tampa Bay public schools?

Crowdfunding uses basically the same structure as a syndication, with the main difference that it's just done publicly over the Internet. 

Whatever it is, you will be working for a more seasoned project manager or senior project manager.To find companies, search in your local area:Google search for news about company activities, company announcements, new projects, public hearings, phase releases (new units released to the market), new hires or promotions.Google search and look for advertising for new projects selling or renting units and identify the developer.Get a development internshipAn alternative, if you are finding a job a challenge, offer yourself up as an intern for a small development company, with the express purpose of gaining development experience, or at least that's how you should communicate it to them.

Surely you wouldn’t want to post on a public forum that you’re a newbie to an industry and have $1M at your fingertips.Be prepared to get a lot of colleague requests and messages and proceed with caution because not everyone has your best interest in mind.To answer your question I would put it in a high yield savings account earning 2%+ while I educated myself on all the various types of real estate investment strategies.