Quote from @Daksh Raheja: Hi,We are planning to get our first STR and have narrowed it down  to high desert area as it will be close enough for us to manage by ourselves.I am looking for any inputs from current or aspiring STR owners in the area for the insight on how is the market these days?

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.

You’re off to a solid start by narrowing in on a price range, identifying markets, and thinking long-term.

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)?

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.

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

In Philadelphia’s rowhome areas, we run into narrow gaps between row homes where a structure has been torn down.

Let's narrow down your options. 

@Ben CaponeHey Ben, since you’re already experienced in rentals, the Midwest can be a great place to buy undervalued properties with solid cash flow and upside, you can focus on B and C grade neighborhoods that often offer strong returns, plus there are off-market deals you won’t see online, the key is building a local team and contractor network to make managing and rehabbing much easier, it’s a lower-cost market with opportunity to flip or hold for steady long-term growth

For this price band, most of our builds land in the $135–$155 per sq ft range depending on finishes.