In Florida the rental agreements the Realtors were using are more biased towards the tenant than the Landlord so I have a 2 page addendum to cover "Financial Responsibility" (If sued any damages or compensation can only come from the LLC or property the LLC owns), Smoke Detectors (Sounds small but failing to maintain could bankrupt you or be costly) My tenants need to notify me within 5 days of discovering one is not functioning. 

The IRS contacted us a few months later and hit us with a fine of approximately $1500 for failing to file.

If you are looking at this from the perspective of helping the group, I would find an experienced developer and/or an existing (possibly failed) development, introduce the two parties then get out of the way and let the group handle the particulars of what and where they actually want to live.

@Mark GallagherIf you have ever listened to BP podcasts, they always ask the guest the question at the end of the podcast: "What do you think sets apart successful investors from those who fail, give up, or never get started?"  

The law fails to explicitly require any PM to follow State HOA laws and the governing documents of the HOA managed.

One of the best things about living in the US is that it is so easy to fail at business, get back up, dust your self off, and try again -- with all of that new knowledge.I'm planning to borrow millions of dollars within the next year or two and cash flow 500k/year when the dust settles. 

Just do not want to sugar coat why most fail at this business.  

Contrast this with a startup where it can take a hell of a long time to really get to execution and even at that time there is huge optionality (meaning you either do really really well or fail very little in between).

IF all else fails, ask him point blank, why dont you support my attempt to better our lives? 

"fail fast, fail often, fail forward."