You have to be able to provide some sort of value to these people.

The lengthy back and forth process with the SEC and the legal cost of constructing one of these offerings demand that the money is invested on a discretionary basis by a fund manager of some sort.  

I'm looking for sort of an initial birds eye view as well as what areas are on the rise.  

I have all sorts of alarms going off in my head but can anyone tell me if this is typical or something I shouldn't be worried about?

You can add on all sorts of extra data for a fee per lead.  

This is the sort of project your kids may some day benefit from but you may not.You may be further ahead to sell the land to a developer if possible.

I purchase Airdna data on occasion - seems to be a good tool but heavy lifting to sort through it all. houghts?

If you are doing a conventional loan (30 year, fixed rate FNMA/FMCC mortgage) then what you are proposing might not work.If the seller is providing a secondary mortgage it is very difficult to keep that information from the lender and they will likely not approve of you having very little (or no) skin in the game. 

It is sort of like swapping out electrical outlets.

If rents are at the top of the market and there is not any value-add to increase the appraisal, what sort of change do you expect over the next 6 to 12 months?