This is definitely something I gotta keep in mind when underwriting the next deal, the steep property taxes increase once homestead exemption no longer plays a role in the next tax year.

Though I really wanted a multifamily, I pivoted to a new build SFH. 

Your active role with the other sponsors, and ability to place capital, would give you the equity on the GP side.Legally, there are added layers and components that would have to be set up correctly with the SEC.  

Keep thinking clearly like you are because you positioning yourself to be able to pivot if need be which is awesome.

Hi Kyle To be frank, my role is limited to researching and offering this info for investors. 

Also managing your own properties is definitely not passive but you will see way better returns if you do and as you grow you will learn how to manage and you will then just need to bring in a in house manager in to become more passive in that role.

there is a role for AirBnB and VRBO in the market, hotels have led to their own demise ($40 plus resort fees for coffee in your room and safe access and the pool) and there is a need for Rental owners to be responsable, i just sold a home in scotsdale with https://www.airbnb.com/rooms/22583822?

If you have partners that are completely passive and take no active role in the investment then you are going to need to file an exemption with the state and federal security’s commissions.

I would also file a claim in small claims court against the general contractor that failed to do their role properly (provided the cost of all this for you is under the limit allowed in small claims).Hopefully someone with more experience will also comment specifically on how to help resolve the permit issue.Good Luck

I think that the property manager as the project manager will be a good goal to work up to while I continue to fill that role myself and manage the subcontractors.