Acquisition Criteria

• Property Type: Residential infill lots and land parcels with light density residential future zoning
• Value add single family homes with deferred maintenance and rehabilitation expected on certain properties
• Orlando, Tampa, and Jacksonville and surrounding areas are primary target markets
• Ideal locations situated near public transportation, shopping, and employment centers
• At least 20,000 population or greater within a 3-mile radius
• Areas where housing shortages exist
• Acquisition price less than 80% of Fair Market Value
• Upside rent and valuation potential from asset enhancements and re-positioning

Short Term Investments (under 18 months)

The Fund Manager anticipates that thirty percent (30%) of capital from the Offering will be allocated towards opportunities that involve acquisition, re-position and/or rehabilitation, and asset disposition in under 18 months. Many of these opportunities will be sourced from distressed sellers or “special circumstance” type acquisitions (package Bank REO, seller joint venture, etc.) wherein a significant amount of equity and value is present from the time of acquisition and additional equity and profit is realized through the re-position and rehabilitation process.

Properties in this category are anticipated to require more re-positioning and rehabilitation work and would be reflected in the distressed level acquisition costs. The construction and rehabilitation experience of the Fund Manager is a critical part of this process as that expertise will allow the Fund to fully assess expected costs, timeframes, and other important metrics to maximize net profit and minimize risks related to unexpected rehabilitation costs and re-position expenses.

Long Term Investments (3 to 5 years)

The Fund Manager intends to allocate approximately seventy percent (70%) of invested capital towards acquisitions that will require a longer duration of time to mature prior to disposition. The Fund Manager expects that these assets will still be sourced at attractive acquisition rates, put into the funds construction/development cycle then a portion of the new homes will be sold at market while a larger portion is held for capital appreciation and cash flow with the assets to be liquidated during the winddown period. This unique strategy, a multi hybrid approach presents the fund with the opportunity to benefit from a capital event, cash flow coupled with the increased sales price towards the later term of the funds maturity.

The Fund Manager still intends to deploy elements of new construction to sale with a core focus on new construction to rental strategy to maximize value and allow for maximum rental rates per square foot. Assets in this category will typically be held in the Fund’s portfolio for three to five years prior to disposition.