@Garrett Wilson, if you were "buying directly from the seller", how on earth did the wholesaler get involved?

Do I just work with zoning for that or would the design/build people get involved this early in the process? 

If you are risk adverse real estate, (especially out of state) is not for you.As for horror stories you'll end up involved in those no matter where you invest.

The one that was a pain was the one that a real estate agent was involved

Congrats on getting this deal Harsh.First things first, you should be talking to your attorney and your CPA for legal and tax advise on how to best structure your deal according to what you agree with your partners.That being said, the structure of a deal can take many different shapes and forms and it will vary according to the type of involvement the partners will have in the deal.Are you in charge of putting together the deal, securing debt, managing the operations?

No K1s are involved unless you operated it inside an S-corp. 

@John Knisely Thanks so much for the the invite, Looking forward to getting more involved in these great opportunities.

@Daniel Dietz I think you'll find that the 721 or upreit exchange usually involves either1. the reit selling you a tenant in  common interest in properties it owns to complete your exchange.2.

@Amy Rodgers There is a huge element of terror involved in putting up a lot of your own money or risking your credit for a real estate investment, especially when you don't have a particularly remunerative job to fall back on.

Originally, we had planned on cleaning up the fence and repairing it where needed.