Yes you can build on those lots if they are already existing but you can’t subdivide to parcel dimensions that are narrower than the minimum.

It becomes a de facto taking.There’s also an important human and economic dimension: The owner actually uses the land to operate a truck fleet, which is how they work and employ others. 

One - from the Investment company act for the overall fund structure. 3(c)(5) is an exemption from the investment company act for real estate funds.Two - from the securities act for the investments within that fund structure. 506(b) and 506(c) are exemptions under the securities act, which allow different methods for marketing the funds/syndications.More detailed breakdown:🔹 3(c)(5) — The Real Estate Fund ExemptionThis is part of Regulation D under the Investment Company Act of 1940.

However, the median $/SF has remained in a tight band of $1.16/SF and $1.20/SF for the past 13 months.Rentals - Availability by MonthThe number of homes for rent decreased MoM, which is surprising for the time of year (it usually rises during the fall).Rentals - Median Time to RentMedian days to rent remained flat MoM at 29 days, indicating a healthy rental market.Rentals - Months of SupplyRental inventory decreased MoM, now at 1.5 months, indicating a strong landlord’s market.Sales - Months of SupplySales inventory has remained in a tight band around 2.5 months for the last several months, indicating a consistent seller’s market.Sales - Median $/SF by MonthPrices had a marginal drop MoM, as expected for the time of year.Why invest in Las Vegas?

Most of my properties are Class A or B and my criteria is such that most tenant applicants are either qualified to purchase a home already or will be soon. 

I am a Capital Raiser for B and C class, value add, Multifamily Properties, ideally 20+ doors.

IRC 469(c)(7)(B) and Publication 925 back this up, stating that the active participation of just one spouse can turn the entire rental activity non-passive.It sounds like your CPA may have misunderstood this rule.

Goal: spark qualified showings without looking like we’re chasing and keep room for normal credits/concessions if needed.Questions for local buyers/investors:1) In Nov–Dec, which list would you choose for this profile: high-$710s or low-$710s (same $700–$725k portal band)?

Don't know how familiar you are with SIC but I used to go see some good bands at OD, Shenanigans, Springfield Inn.

From what I’m seeing across BRRRR deals in the Triad (Greensboro / Winston-Salem / High Point), most experienced investors target a refinance LTV in the 70–75% range.Here’s why that band tends to work in practice:• 70% LTV — Most conservative and most resilient.This usually allows investors to:– Recapture the bulk of their rehab + acquisition capital– Maintain strong DSCR even if rates shift– Absorb a soft appraisal without sinking the dealMost lenders also price better in this range, which helps long-term cashflow.• 75% LTV — The “industry standard” for BRRRR refinances.This tends to be the sweet spot where:– You recover enough capital to recycle into the next project– Debt service stays manageable– Cashflow remains positive even with today’s higher rate environmentA lot of Triad investors settle here because the rents usually support it.• 80% LTV — Only works when the rehab is tight and the ARV is rock solid.You can pull more cash out, but:– DSCR compresses fast– Cashflow can get thin– Appraisal risk becomes much higherMost investors only go this high on lighter rehabs or when the numbers are extremely predictable.In short:70% = safest,75% = most common,80% = possible but narrow.Always interested to see what other markets are trending, but these are the ranges that consistently work for BRRRR investors here.