What do your pro forma models show you can pay for equity if you supply an investor a 18% or so IRR? 

All the homes are 60’s-80’s model and would need rehabbed.

The first page is a profile of the property that includes models and pertinent information for all the systems and appliances in the property.

Personally, I'd never sign up for the micro-share model, just let me own and control 20-100% directly.WSJ Article (free hosting, no paywall)

Both of these make them lackluster at best.Lack of consideration of others -- I would be exceedingly hesitant to sign any sort of extension with a tenant who lives in a shared-elements-in-common situation who doesn't model "community thinking" at least to a degree.I currently have a tenant whose embodiment of ^^^ has toxified an entire property . . . one bad apple makes the whole block sore! 

I have experience in buying/holding existing rentals in this area but I have not done development at this stage.Initially, I was thinking about a model where we would potentially divide the property and construction in 3 phases once I complete rezoning and I sell to the developer 1/3 of the parcels at a time. 

Obviously it would take much less time for this model to work out with that 85% ratio than it would if your cash value to premium ratio was much less than that.

Following a similar model, imagine I put 5% down.

Following a similar model, imagine I put 5% down.

We run a lease with option to buy model so we are able to keep expenses to a bare minimum.