Currently the unemployment is lower than 5%, this is due to many plants and factories in need of workers and the housing is at about an 800 unit deficit (with 2 new complexes). 

We bought a 12 unit townhouse complex from a local Dr who owned the property outright.

Hello everyone,I manage a 10 unit complex here in north Georgia.

I'm communicating with probably the best TIC operations attorney in the country (I'll introduce him later), his firm deals mainly with conversions of larger complexes and HOAs and works nationally and on an international scale. $$$$$! 

However, it seems to be much bigger and more complex than you've planned for.If you're going to prepare this house for any sort of resale (which you should), then you need a bunch of GCs to walk thru it with you and give detailed estimates.  

My 2$- if reducing complexity and legal costs is your goal, I don't think that would be accomplished by syndicating a first mortgage note.  

They are starting with repealing prop 13 property taxes for businesses, but will eventually get to apartment complexes and then SFR.You read it here first.  

Most are both jealous and have not one iota how time consuming and complex a wholesaling deal can be.

It does add an extra layer of complexity, but if it's in a vacation rental market where most of the homes in the HOA are vacation rentals, it's unlikely that the HOA is going to suddenly ban overnight rentals.

We had a few properties in LA before investing in an apartment complex in Cincinnati.