I am 30 and have a high paying job and a decent amount of savings.We're trying to draft an operating agreement together as an LLC and I am trying to make sure my bases are covered.

There's lots of demand here because there are lots of out-of-state investors who can't or simply don't want to operate an Airbnb here from California.

You also get handed-off a few times throughout the process (disposition team, operation team, inspection team, closing team).

My CPA is telling me that if I take a percentage of equity ownership, that is a taxable event and I will owe taxes on my % of the total capital raised as outlined in the operating agreement (on day 1 before we have built anything!).

But, why replace them if they are not broke or operating inefficiently? 

Living in North Myrtle Beach, I see buyers buying houses that do not make money and sellers selling houses for far less than they should.I urge you to get fully educated regarding operating expenses, operating income, net operating income, return on equity, capitalization rate, debt service, capital reserves, the difference between capital and maintenance expenses, and a host of other topics.  

I am putting together the plan which includes: the construction expenses, financing, pro-forma's, operations, etc.

Then you have operational items: $850/mo for a 3 bed tells me this is a bit of a lower end area.  

you can plug in the numbers to the bp calculator - i use the bp calculator and my excel models to be sureAssumptions as an exampleassume $650/mo rent for each unitassume 8.333% vacancy rate (1 month)assume 40% operating expenses (kinda high but cap ex can be pretty stout)assume a 5% cap rate Cap rates are important to know with these type properties. 

In most investments like these, the investor is completely removed from the asset, the management, or the operational perspective of the investment.When you invest in syndicated investment, the syndicator/sponsor will handle all aspects of the deal such as, due diligence, locating a profitable property (or properties), hiring and managing the property manager, sending out quarterly reports, implementing the business plan, handling investor relations, and so on.