I specifically want to expand on Chris's point by discussing capital risk buckets, which help set a target return range for IRR.At my company, they are as follows:Core: Lowest risk, Class A product, in Central Business Districts, ranging from 7-10%+ levered IRR (since you're in development, I assume this is most of the asset class you handle).Core Plus: Still low risk, strong location with potential upside, 10-13% levered IRR.Value Add: Medium-high risk, Class B+ or B-, mediocre to strong location with operational or physical upside, 13-15% levered IRR.Opportunistic: Highest risk, major upside potential, varying locations, 15-20% levered IRR.As for the GP/LP split on promoted interest, GPs can choose an aggressive split, but the decision should be strategic and consider the preferences and risk tolerances of potential investors.

Consider saving, or bringing in a partner to help hedge the expenses 

It might help pay for your expenses if you house hack but I bet the number of markets a 3.5% down payment is cash flowing has shrunk significantly over the past 2 years.

Yes, I've both done a few 1031s and helped more than a few people as the QI for their own 1031 exchanges over the years. 

Setting clear expectations can help resolve the problem and maintain a good landlord-tenant relationship.I used to smoke cigarettes myself and found that switching to vaping was a much better alternative.

Let me know if I can help. 

I called their help center and unfortunately found them less than helpful. 

Make sure they are someone qualified to help for this!

Of course, if the tenants don't file tax returns, there's not much we can do except try to garnish their bank account when they get their federal return - if you can find their bank and serve that bank a Garnishment Notice before the tenant withdraws the electronic payment from the IRS/ tax preparer.Hope this all helps!

Whichever route you choose, getting started is the most important step.Hope this helps, and good luck!