Filed Pursuant to Rule 253(g)(2)

File No. 024-11325

Arrived Homes, LLC

SUPPLEMENT NO. 5 DATED July 28, 2026
TO THE OFFERING CIRCULAR DATED January 30, 2025

This document supplements, and should be read in conjunction with, the offering circular of Arrived Homes, LLC ("we", "our" or "us"), dated January 30, 2025, as previously supplemented, and filed by us with the Securities and Exchange Commission (the "Commission") (collectively, the "Offering Circular"). Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the Offering Circular.

The purpose of this supplement is to disclose:

●

Our Net Asset Value ("NAV") Per Interest for each series as of July 25, 2026.

Net Asset Value as of July 25, 2026

As of July 25, 2026, our net asset value ("NAV") per interest for each series is set in the table below. This NAV per interest shall be effective until updated by us on or about October 25, 2026.

Series		NAV Per Interest
100		$8.43
101		$8.00
Abbington		$9.00
Abernant		$10.05
Alvin		$10.43
Amber		$10.84
Apollo		$6.73
Aster		$9.92
Augusta		$9.84
Avebury		$8.38
Avondale		$9.12
Badminton		$13.17
Ballinger		$10.05
Bandelier		$10.82
Baron		$8.01
Basil		$15.55
Bayside		$11.44
Bazzel		$9.87
Bedford		$9.50
Bella		$10.36
Belle		$7.59
Belvedere		$9.86
Bergenia		$9.92
Blossom		$9.31
Bonneau		$10.07
Brainerd		$10.05
Braxton		$10.02
Brennan		$6.04
Briarwood		$10.16
Brooklyn		$8.90
Burlington		$8.36
Butter		$11.46
Calvin		$10.03
Camino		$9.41
Cawley		$9.55
Chaparral		$17.61
Chelsea		$9.07
Chester		$10.21
Chickamauga		$10.25
Chinook		$9.42
Chitwood		$10.33
Clover		$9.34
Coatbridge		$9.18
Collier		$10.79
Collinston		$9.01
Conway		$9.31
Cove		$9.85
Creekside		$9.97
Creekwood		$8.88
Cumberland		$9.22
Cupcake		$15.52
Cypress		$7.34
Daisy		$10.21
Davidson		$10.52
Dawson		$10.46
Delta		$4.01
Dewberry		$11.55
Diablo		$7.95
Dogwood		$9.86
Dolittle		$12.04
Dolly		$8.77
Dops		$10.62
Dorchester		$9.37
Dunbar		$8.42
Eagle		$13.00
Eastfair		$11.39
Eastwood		$10.29
Elevation		$8.11
Ella		$10.20
Ellen		$8.99
Elm		$13.94
Emporia		$4.82
Ensenada		$7.11
Falcon		$12.81
Felix		$9.64
Fenwick		$9.73
Fletcher		$9.53
Folly		$9.64
Forest		$10.30
Foster		$10.68
Franklin		$9.97
Gardens		$8.65
General		$10.08
Goose		$13.53
Grant		$12.23
Greenhill		$9.72
Gretal		$9.65
Grove		$9.24
Hadden		$8.81
Hansard		$11.72
Hansel		$8.16
Hargrave		$9.42
Harrison		$9.66
Henry		$7.87
Heritage		$7.60
Heron		$10.59
Highland		$9.69
Hines		$9.69
Hobbes		$9.88
Holcomb		$7.89
Holland		$10.95
Hollandaise		$9.16
Holloway		$13.42
Inglewood		$9.20
Irene		$9.43
Jack		$9.20
Jake		$8.06
Jefferson		$10.39
Jill		$8.79
Johnny		$8.30
June		$8.44
Jupiter		$11.14
Kawana		$8.53
Kennesaw		$9.31
Kenny		$8.77
KerriAnn		$7.86
Kessler		$9.71
Kingsley		$12.54
Kirkwood		$7.82
Korin		$10.93
Lallie		$5.91
Lanier		$9.38
Lannister		$8.34
Latte		$10.29
Lennox		$12.80
Lierly		$26.14
Lily		$7.20
Limestone		$9.20
Litton		$11.42
Longwoods		$9.67
Lookout		$9.76
Loretta		$9.56
Louis		$10.30
Louise		$10.73
Lovejoy		$5.93
Luna		$12.64
Lurleen		$8.71
Madison		$7.68
Mae		$9.92
Magnolia		$6.83
Malbec		$16.99
Mammoth		$7.23
Marcelo		$10.03
Marie		$11.85
Marietta		$9.26
Marion		$10.28
Marple		$9.26
Martell		$9.79
Mary		$10.67
Matchingham		$11.26
McGregor		$9.97
McLovin		$8.17
Meadow		$10.45
Mimosa		$9.47
Mojave		$14.99
Murphy		$12.43
Mycroft		$9.12
Nugget		$8.01
Odessa		$7.95
Olive		$10.92
Oly		$8.39
Onyx		$9.54
Oscar		$9.72
Osceola		$9.32
Osprey		$9.78
Otoro		$4.01
Palmer		$9.70
Patrick		$16.71
Peanut		$9.79
Pearl		$8.52
Pecan		$18.01
Peterson		$10.24
Piedmont		$6.32
Pinot		$17.21
Pioneer		$8.44
Plumtree		$16.36
Point		$8.39
Porthos		$9.67
Quincy		$8.61
Redondo		$10.25
Regency		$12.92
Reginald		$7.64
Reynolds		$8.08
Ribbonwalk		$10.00
Richardson		$10.42
Richmond		$9.80
Ridge		$11.16
Ritter		$9.14
River		$12.86
Riverwalk		$10.09
Rooney		$8.97
Roseberry		$11.63
Rosewood		$10.62
Roxy		$8.98
Saddlebred		$7.68
Saint		$7.70
Sajni		$10.09
Salem		$16.62
Salinas		$10.99
Saturn		$10.17
Scepter		$8.26
Sequoyah		$9.71
Shallowford		$8.71
Shoreline		$9.76
Sigma		$10.16
Simon		$10.55
Sims		$9.64
Soapstone		$23.77
Sodalis		$8.91
Spencer		$11.94
Splash		$15.27
Spring		$9.61
Stonebriar		$8.38
Sugar		$11.52
Summerset		$12.04
Sundance		$9.81
Sunnyside		$10.61
Swift		$9.09
Taylor		$9.18
Terracotta		$6.59
Theodore		$10.55
Tulip		$7.47
Tuscan		$15.91
Tuscarora		$10.79
Tuxford		$6.79
Vernon		$9.48
Walton		$9.44
Wave		$4.03
Weldon		$11.69
Wellington		$8.94
Wentworth		$15.18
Wescott		$7.58
Westchester		$9.14
Wildwood		$11.71
Willow		$9.09
Wilson		$10.11
Winchester		$9.71
Windsor		$10.77
Winston		$9.00
Wisteria		$11.68

The following sets forth the calculation of each series' NAV per interest:

BALANCE SHEET (UNAUDITED) [1]

		100		101		Abbington		Abernant		Alvin		Amber		Apollo
ASSETS
Current assets:
Cash	$	5,907	$	4,382	$	10,713	$	11,188	$	17,043	$	6,888	$	1,498
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		(354)		6,226		4,546		3,127		5,054		4,161		2,261
Property and equipment, net		551,736		576,269		433,628		212,425		297,000		268,410		184,154
Total assets	$	557,289	$	586,877	$	448,887	$	226,740	$	319,098	$	282,543	$	191,610

LIABILITIES
Current liabilities:
Accrued expenses	$	2,473	$	2,615	$	2,369	$	1,973	$	1,822	$	2,126	$	2,775
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		28,441		35,838		22,682		3,640		5,125		9,216		18,470
Tenant deposits		-		2,995		2,845		1,745		2,545		1,995		648
Note payable, related party		-		25,000		-		-		-		6,900		20,000
Mortgage payables		-		-		-		-		-		198,925		133,484
Total liabilities	$	30,914	$	66,448	$	27,897	$	7,358	$	9,492	$	219,162	$	175,377

MEMBERS' EQUITY (DEFICIT)
Members' capital		563,235		620,417		436,775		221,576		292,734		105,705		69,515
Accumulated deficit		(36,860)		(99,988)		(15,784)		(2,194)		16,872		(42,324)		(53,281)
Total members' equity (deficit)	$	526,375	$	520,429	$	420,991	$	219,382	$	309,607	$	63,381	$	16,234
Total liabilities and members' equity (deficit)	$	557,289	$	586,877	$	448,887	$	226,740	$	319,098	$	282,543	$	191,610

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		526,375		520,429		420,991		219,382		309,607		63,381		16,234
Net adjustments to fair value		56,215		52,225		72,860		54,073		80,203		91,621		44,274
TOTAL NET ASSETS	$	582,591	$	572,654	$	493,851	$	273,455	$	389,809	$	155,002	$	60,507
NET ASSET VALUE PER INTEREST	$	8.43	$	8.00	$	9.00	$	10.05	$	10.43	$	10.84	$	6.73

		Aster		Augusta		Avebury		Avondale		Badminton		Ballinger		Bandelier
ASSETS
Current assets:
Cash	$	4,053	$	17,316	$	3,499	$	7,759	$	5,462	$	6,821	$	6,842
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		1,691		3,946		4,639		(1,804)		4,379		3,832		4,449
Property and equipment, net		236,955		275,076		259,685		305,321		225,565		281,367		311,930
Total assets	$	246,968	$	296,338	$	271,297	$	311,276	$	239,728	$	292,020	$	328,399

LIABILITIES
Current liabilities:
Accrued expenses	$	4,147	$	2,495	$	2,094	$	2,653	$	4,189	$	1,791	$	2,383
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		6,296		5,463		11,902		6,160		7,801		5,634		7,053
Tenant deposits		1,795		1,995		1,795		-		2,195		2,320		2,245
Note payable, related party		19,100		-		5,400		-		17,300		-		-
Mortgage payables		124,603		-		201,049		-		172,123		-		242,738
Total liabilities	$	155,942	$	9,952	$	222,240	$	8,813	$	203,608	$	9,745	$	254,420

MEMBERS' EQUITY (DEFICIT)
Members' capital		145,792		283,727		90,646		320,665		73,380		288,014		112,502
Accumulated deficit		(54,765)		2,659		(41,589)		(18,202)		(37,259)		(5,739)		(38,523)
Total members' equity (deficit)	$	91,026	$	286,385	$	49,057	$	302,463	$	36,121	$	282,275	$	73,979
Total liabilities and members' equity (deficit)	$	246,968	$	296,338	$	271,297	$	311,276	$	239,728	$	292,020	$	328,399

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		91,026		286,385		49,057		302,463		36,121		282,275		73,979
Net adjustments to fair value		80,146		59,813		55,406		52,272		105,630		71,859		85,640
TOTAL NET ASSETS	$	171,172	$	346,199	$	104,464	$	354,735	$	141,751	$	354,134	$	159,619
NET ASSET VALUE PER INTEREST	$	9.92	$	9.84	$	8.38	$	9.12	$	13.17	$	10.05	$	10.82

		Baron		Basil		Bayside		Bazzel		Bedford		Bella		Belle
ASSETS
Current assets:
Cash	$	8,822	$	5,750	$	6,638	$	7,128	$	5,439	$	7,475	$	6,897
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		(2,915)		3,618		(6,042)		3,372		4,766		(2,434)		5,506
Property and equipment, net		524,540		176,384		223,540		240,497		250,718		290,729		396,762
Total assets	$	530,447	$	188,374	$	230,277	$	250,998	$	266,758	$	295,770	$	409,165

LIABILITIES
Current liabilities:
Accrued expenses	$	4,030	$	2,478	$	4,652	$	3,333	$	5,151	$	3,812	$	3,626
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		28,412		5,255		9,596		13,321		6,472		7,565		10,426
Tenant deposits		-		1,695		-		1,845		2,295		-		3,593
Note payable, related party		-		9,700		10,000		21,700		13,300		8,500		25,900
Mortgage payables		-		129,903		163,737		-		194,645		-		-
Total liabilities	$	32,442	$	149,032	$	187,985	$	40,199	$	221,863	$	19,877	$	43,545

MEMBERS' EQUITY (DEFICIT)
Members' capital		527,251		57,509		81,493		241,928		86,988		302,343		421,930
Accumulated deficit		(29,246)		(18,167)		(39,201)		(31,129)		(42,094)		(26,450)		(56,310)
Total members' equity (deficit)	$	498,005	$	39,342	$	42,292	$	210,799	$	44,894	$	275,893	$	365,620
Total liabilities and members' equity (deficit)	$	530,447	$	188,374	$	230,277	$	250,998	$	266,758	$	295,770	$	409,165

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		498,005		39,342		42,292		210,799		44,894		275,893		365,620
Net adjustments to fair value		22,617		107,680		98,376		75,429		71,218		99,818		13,324
TOTAL NET ASSETS	$	520,622	$	147,022	$	140,668	$	286,228	$	116,112	$	375,712	$	378,944
NET ASSET VALUE PER INTEREST	$	8.01	$	15.55	$	11.44	$	9.87	$	9.50	$	10.36	$	7.59

		Belvedere		Bergenia		Blossom		Bonneau		Brainerd		Braxton		Brennan
ASSETS
Current assets:
Cash	$	16,009	$	10,693	$	16,991	$	7,573	$	8,116	$	7,474	$	2,989
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,806		2,920		2,540		(1,520)		4,467		3,332		5,081
Property and equipment, net		273,472		202,568		230,093		304,540		265,083		292,329		203,500
Total assets	$	294,286	$	216,181	$	249,624	$	310,593	$	277,666	$	303,135	$	215,866

LIABILITIES
Current liabilities:
Accrued expenses	$	2,617	$	1,657	$	4,361	$	4,734	$	2,769	$	2,555	$	3,041
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		5,796		3,999		21,504		10,823		6,570		7,572		22,288
Tenant deposits		2,295		1,495		1,845		-		2,495		2,045		1,550
Note payable, related party		-		-		7,400		5,000		-		10,700		35,200
Mortgage payables		-		-		-		-		143,913		-		154,131
Total liabilities	$	10,707	$	7,150	$	35,110	$	20,557	$	155,746	$	22,872	$	216,210

MEMBERS' EQUITY (DEFICIT)
Members' capital		269,649		206,795		240,219		317,431		142,660		296,338		84,906
Accumulated deficit		13,930		2,236		(25,706)		(27,395)		(20,740)		(16,075)		(85,250)
Total members' equity (deficit)	$	283,579	$	209,031	$	214,514	$	290,037	$	121,920	$	280,263	$	(344)
Total liabilities and members' equity (deficit)	$	294,286	$	216,181	$	249,624	$	310,593	$	277,666	$	303,135	$	215,866

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		283,579		209,031		214,514		290,037		121,920		280,263		(344)
Net adjustments to fair value		61,301		47,832		69,240		101,616		72,212		99,224		64,375
TOTAL NET ASSETS	$	344,880	$	256,863	$	283,753	$	391,653	$	194,132	$	379,487	$	64,031
NET ASSET VALUE PER INTEREST	$	9.86	$	9.92	$	9.31	$	10.07	$	10.05	$	10.02	$	6.04

		Briarwood		Brooklyn		Burlington		Butter		Calvin		Camino		Cawley
ASSETS
Current assets:
Cash	$	10,172	$	4,150	$	6,201	$	8,605	$	17,262	$	5,852	$	10,304
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,098		2,797		6,409		9,267		3,601		3,527		4,045
Property and equipment, net		194,908		153,161		589,552		333,852		220,150		239,306		291,769
Total assets	$	208,177	$	160,108	$	602,162	$	357,704	$	241,014	$	248,685	$	306,119

LIABILITIES
Current liabilities:
Accrued expenses	$	3,162	$	2,061	$	4,284	$	4,143	$	3,422	$	1,847	$	2,535
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		3,370		6,503		38,891		8,309		3,910		7,152		5,901
Tenant deposits		1,995		1,295		3,645		2,795		1,795		1,595		2,095
Note payable, related party		-		24,100		4,000		24,200		-		-		-
Mortgage payables		-		82,377		-		260,113		-		-		-
Total liabilities	$	8,527	$	116,336	$	50,820	$	299,559	$	9,127	$	10,594	$	10,530

MEMBERS' EQUITY (DEFICIT)
Members' capital		199,798		93,141		595,378		108,994		222,060		239,968		296,868
Accumulated deficit		(148)		(49,369)		(44,036)		(50,850)		9,827		(1,877)		(1,279)
Total members' equity (deficit)	$	199,650	$	43,772	$	551,343	$	58,145	$	231,887	$	238,090	$	295,588
Total liabilities and members' equity (deficit)	$	208,177	$	160,108	$	602,162	$	357,704	$	241,014	$	248,685	$	306,119

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		199,650		43,772		551,343		58,145		231,887		238,090		295,588
Net adjustments to fair value		58,066		60,711		52,215		123,192		52,107		51,692		58,770
TOTAL NET ASSETS	$	257,716	$	104,483	$	603,558	$	181,337	$	283,994	$	289,782	$	354,358
NET ASSET VALUE PER INTEREST	$	10.16	$	8.90	$	8.36	$	11.46	$	10.03	$	9.41	$	9.55

		Chaparral		Chelsea		Chester		Chickamauga		Chinook		Chitwood		Clover
ASSETS
Current assets:
Cash	$	9,176	$	6,656	$	6,708	$	13,760	$	8,688	$	9,783	$	6,969
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,885		3,609		2,521		5,875		3,541		5,254		5,560
Property and equipment, net		168,465		275,199		335,003		340,125		286,520		345,085		298,746
Total assets	$	182,526	$	290,003	$	347,988	$	359,759	$	298,750	$	360,122	$	311,276

LIABILITIES
Current liabilities:
Accrued expenses	$	7,013	$	2,070	$	2,490	$	2,083	$	2,525	$	4,641	$	2,561
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		5,756		6,832		8,432		8,169		5,588		9,127		18,716
Tenant deposits		1,695		1,895		2,545		3,693		1,995		2,795		1,995
Note payable, related party		-		-		-		-		5,200		-		5,600
Mortgage payables		104,980		213,460		182,076		-		-		-		-
Total liabilities	$	119,444	$	224,257	$	195,543	$	13,945	$	15,308	$	16,563	$	28,872

MEMBERS' EQUITY (DEFICIT)
Members' capital		62,849		88,283		201,649		334,201		295,638		342,360		300,150
Accumulated deficit		233		(22,537)		(49,204)		11,613		(12,196)		1,199		(17,746)
Total members' equity (deficit)	$	63,082	$	65,746	$	152,445	$	345,814	$	283,442	$	343,559	$	282,404
Total liabilities and members' equity (deficit)	$	182,526	$	290,003	$	347,988	$	359,759	$	298,750	$	360,122	$	311,276

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		63,082		65,746		152,445		345,814		283,442		343,559		282,404
Net adjustments to fair value		121,443		58,533		100,751		95,628		56,670		111,894		71,314
TOTAL NET ASSETS	$	184,525	$	124,279	$	253,197	$	441,442	$	340,112	$	455,454	$	353,718
NET ASSET VALUE PER INTEREST	$	17.61	$	9.07	$	10.21	$	10.25	$	9.42	$	10.33	$	9.34

		Coatbridge		Collier		Collinston		Conway		Cove		Creekside		Creekwood
ASSETS
Current assets:
Cash	$	5,196	$	8,831	$	7,277	$	10,420	$	9,303	$	10,927	$	6,639
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		1,466		(3,108)		7,415		6,967		7,168		2,990		3,828
Property and equipment, net		240,172		320,366		185,188		619,544		194,111		280,555		261,035
Total assets	$	251,324	$	326,088	$	201,853	$	636,930	$	210,582	$	294,472	$	276,986

LIABILITIES
Current liabilities:
Accrued expenses	$	4,931	$	1,368	$	3,020	$	3,242	$	2,333	$	5,316	$	2,322
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		8,886		16,777		20,400		16,026		4,060		7,309		7,231
Tenant deposits		3,143		-		1,595		3,645		1,695		2,350		1,795
Note payable, related party		25,400		-		35,600		13,400		24,700		-		-
Mortgage payables		173,406		-		135,002		-		-		-		141,551
Total liabilities	$	215,765	$	18,146	$	195,618	$	36,313	$	32,788	$	14,975	$	152,898

MEMBERS' EQUITY (DEFICIT)
Members' capital		92,846		313,134		81,057		644,163		210,143		271,717		159,805
Accumulated deficit		(57,287)		(5,191)		(74,823)		(43,546)		(32,349)		7,780		(35,717)
Total members' equity (deficit)	$	35,559	$	307,943	$	6,235	$	600,618	$	177,794	$	279,496	$	124,088
Total liabilities and members' equity (deficit)	$	251,324	$	326,088	$	201,853	$	636,930	$	210,582	$	294,472	$	276,986

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		35,559		307,943		6,235		600,618		177,794		279,496		124,088
Net adjustments to fair value		84,604		121,225		85,824		122,548		64,814		76,007		48,362
TOTAL NET ASSETS	$	120,163	$	429,167	$	92,059	$	723,165	$	242,607	$	355,503	$	172,450
NET ASSET VALUE PER INTEREST	$	9.18	$	10.79	$	9.01	$	9.31	$	9.85	$	9.97	$	8.88

		Cumberland		Cupcake		Cypress		Daisy		Davidson		Dawson		Delta
ASSETS
Current assets:
Cash	$	7,879	$	6,488	$	5,828	$	7,322	$	5,082	$	3,209	$	3,150
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		(92)		3,595		5,729		3,017		(12,811)		3,658		11,846
Property and equipment, net		267,219		198,700		335,817		271,728		194,307		198,614		308,721
Total assets	$	275,007	$	211,516	$	352,309	$	282,067	$	190,101	$	209,992	$	331,189

LIABILITIES
Current liabilities:
Accrued expenses	$	1,934	$	4,994	$	3,875	$	4,557	$	2,075	$	4,124	$	4,891
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,373		5,937		14,485		7,292		8,640		7,499		19,581
Tenant deposits		1,695		1,945		2,395		1,695		-		1,745		2,195
Note payable, related party		-		-		15,200		-		14,600		23,900		95,700
Mortgage payables		-		150,310		179,371		-		145,431		144,400		224,703
Total liabilities	$	11,002	$	163,186	$	215,326	$	13,544	$	170,746	$	181,668	$	347,069

MEMBERS' EQUITY (DEFICIT)
Members' capital		268,200		54,979		199,445		268,382		67,925		78,732		118,520
Accumulated deficit		(4,195)		(6,648)		(62,462)		141		(48,570)		(50,408)		(134,400)
Total members' equity (deficit)	$	264,005	$	48,331	$	136,983	$	268,523	$	19,355	$	28,324	$	(15,880)
Total liabilities and members' equity (deficit)	$	275,007	$	211,516	$	352,309	$	282,067	$	190,101	$	209,992	$	331,189

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		264,005		48,331		136,983		268,523		19,355		28,324		(15,880)
Net adjustments to fair value		51,314		118,551		43,596		85,577		77,911		86,390		74,019
TOTAL NET ASSETS	$	315,318	$	166,882	$	180,579	$	354,100	$	97,266	$	114,715	$	58,139
NET ASSET VALUE PER INTEREST	$	9.22	$	15.52	$	7.34	$	10.21	$	10.52	$	10.46	$	4.01

		Dewberry		Diablo		Dogwood		Dolittle		Dolly		Dops		Dorchester
ASSETS
Current assets:
Cash	$	4,064	$	7,270	$	5,541	$	6,068	$	7,664	$	5,638	$	7,551
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		5,812		3,746		4,368		4,892		7,306		3,241		4,475
Property and equipment, net		165,508		267,653		216,738		270,283		622,185		187,005		315,600
Total assets	$	180,890	$	282,501	$	226,647	$	287,341	$	637,155	$	195,884	$	327,626

LIABILITIES
Current liabilities:
Accrued expenses	$	3,566	$	2,645	$	1,562	$	4,260	$	2,640	$	1,600	$	5,578
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		5,891		7,978		11,324		11,192		16,183		5,535		16,193
Tenant deposits		1,695		2,145		1,750		2,295		3,995		1,495		2,295
Note payable, related party		24,700		28,300		-		6,300		-		-		52,800
Mortgage payables		119,590		205,930		-		205,617		-		-		-
Total liabilities	$	155,441	$	246,998	$	14,636	$	229,664	$	22,818	$	8,631	$	76,866

MEMBERS' EQUITY (DEFICIT)
Members' capital		64,436		93,448		212,986		91,104		645,306		187,790		336,096
Accumulated deficit		(38,987)		(57,945)		(975)		(33,428)		(30,969)		(537)		(85,337)
Total members' equity (deficit)	$	25,449	$	35,503	$	212,010	$	57,676	$	614,337	$	187,253	$	250,760
Total liabilities and members' equity (deficit)	$	180,890	$	282,501	$	226,647	$	287,341	$	637,155	$	195,884	$	327,626

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		25,449		35,503		212,010		57,676		614,337		187,253		250,760
Net adjustments to fair value		80,397		66,995		61,985		103,332		75,704		68,231		124,298
TOTAL NET ASSETS	$	105,846	$	102,497	$	273,995	$	161,008	$	690,041	$	255,484	$	375,057
NET ASSET VALUE PER INTEREST	$	11.55	$	7.95	$	9.86	$	12.04	$	8.77	$	10.62	$	9.37

		Dunbar		Eagle		Eastfair		Eastwood		Elevation		Ella		Ellen
ASSETS
Current assets:
Cash	$	6,979	$	7,318	$	5,812	$	12,252	$	4,196	$	6,544	$	14,194
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,960		4,183		4,006		4,978		8,110		(3,845)		3,682
Property and equipment, net		302,193		249,966		187,259		297,728		238,138		239,716		230,880
Total assets	$	313,133	$	267,688	$	201,672	$	314,958	$	254,426	$	242,414	$	248,756

LIABILITIES
Current liabilities:
Accrued expenses	$	1,998	$	5,867	$	3,885	$	1,754	$	3,973	$	1,889	$	5,625
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		20,949		6,334		5,376		5,057		15,079		7,045		4,471
Tenant deposits		2,295		2,245		1,949		2,795		1,895		-		2,100
Note payable, related party		58,200		-		17,500		-		55,100		-		-
Mortgage payables		-		131,981		148,125		-		170,543		-		-
Total liabilities	$	83,442	$	146,427	$	176,836	$	9,605	$	246,590	$	8,934	$	12,196

MEMBERS' EQUITY (DEFICIT)
Members' capital		317,239		136,334		58,522		320,122		99,928		248,227		242,917
Accumulated deficit		(87,548)		(15,073)		(33,685)		(14,770)		(92,092)		(14,747)		(6,357)
Total members' equity (deficit)	$	229,691	$	121,261	$	24,837	$	305,352	$	7,836	$	233,480	$	236,560
Total liabilities and members' equity (deficit)	$	313,133	$	267,688	$	201,672	$	314,958	$	254,426	$	242,414	$	248,756

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		229,691		121,261		24,837		305,352		7,836		233,480		236,560
Net adjustments to fair value		79,433		118,370		71,534		80,356		94,087		79,000		30,649
TOTAL NET ASSETS	$	309,124	$	239,631	$	96,370	$	385,708	$	101,924	$	312,480	$	267,209
NET ASSET VALUE PER INTEREST	$	8.42	$	13.00	$	11.39	$	10.29	$	8.11	$	10.20	$	8.99

		Elm		Emporia		Ensenada		Falcon		Felix		Fenwick		Fletcher
ASSETS
Current assets:
Cash	$	3,269	$	5,501	$	9,333	$	6,871	$	6,927	$	9,324	$	14,132
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		5,081		4,937		1,908		(665)		4,283		6,231		2,501
Property and equipment, net		144,576		313,335		500,107		250,617		233,503		278,106		163,604
Total assets	$	156,504	$	329,180	$	519,947	$	263,318	$	244,713	$	293,661	$	180,237

LIABILITIES
Current liabilities:
Accrued expenses	$	3,021	$	3,546	$	3,792	$	5,835	$	1,927	$	2,284	$	2,731
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		8,665		13,858		11,442		6,319		4,553		5,506		2,831
Tenant deposits		1,650		2,395		3,595		-		2,393		4,190		1,395
Note payable, related party		12,400		29,700		16,100		-		-		-		-
Mortgage payables		105,942		242,786		388,874		131,972		-		-		-
Total liabilities	$	131,678	$	292,285	$	423,803	$	144,125	$	8,872	$	11,979	$	6,957

MEMBERS' EQUITY (DEFICIT)
Members' capital		55,274		114,863		178,735		136,682		236,529		291,687		166,602
Accumulated deficit		(30,448)		(77,968)		(82,590)		(17,489)		(688)		(10,005)		6,678
Total members' equity (deficit)	$	24,827	$	36,895	$	96,145	$	119,193	$	235,841	$	281,682	$	173,280
Total liabilities and members' equity (deficit)	$	156,504	$	329,180	$	519,947	$	263,318	$	244,713	$	293,661	$	180,237

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		24,827		36,895		96,145		119,193		235,841		281,682		173,280
Net adjustments to fair value		89,632		36,534		68,219		116,194		49,469		63,787		32,126
TOTAL NET ASSETS	$	114,458	$	73,428	$	164,363	$	235,387	$	285,310	$	345,469	$	205,407
NET ASSET VALUE PER INTEREST	$	13.94	$	4.82	$	7.11	$	12.81	$	9.64	$	9.73	$	9.53

		Folly		Forest		Foster		Franklin		Gardens		General		Goose
ASSETS
Current assets:
Cash	$	7,645	$	2,840	$	7,470	$	6,331	$	3,447	$	9,531	$	7,931
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,354		15,382		5,569		4,980		3,351		3,942		1,941
Property and equipment, net		283,339		311,783		290,719		279,976		200,395		293,814		232,946
Total assets	$	295,338	$	332,577	$	303,758	$	291,287	$	208,792	$	307,287	$	247,379

LIABILITIES
Current liabilities:
Accrued expenses	$	4,285	$	4,345	$	2,457	$	7,850	$	1,476	$	3,798	$	5,616
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		16,628		13,705		5,870		5,367		7,087		5,680		13,912
Tenant deposits		2,695		1,248		1,850		2,595		-		2,495		1,995
Note payable, related party		6,600		60,400		-		-		11,000		-		-
Mortgage payables		-		225,446		-		-		134,973		-		122,893
Total liabilities	$	30,208	$	305,144	$	10,177	$	15,812	$	154,536	$	11,973	$	144,417

MEMBERS' EQUITY (DEFICIT)
Members' capital		294,737		131,264		302,790		290,328		80,565		294,997		124,414
Accumulated deficit		(29,606)		(103,830)		(9,209)		(14,853)		(26,309)		317		(21,452)
Total members' equity (deficit)	$	265,130	$	27,433	$	293,581	$	275,475	$	54,256	$	295,315	$	102,962
Total liabilities and members' equity (deficit)	$	295,338	$	332,577	$	303,758	$	291,287	$	208,792	$	307,287	$	247,379

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		265,130		27,433		293,581		275,475		54,256		295,315		102,962
Net adjustments to fair value		83,945		139,784		105,109		78,523		45,132		82,327		130,290
TOTAL NET ASSETS	$	349,076	$	167,217	$	398,690	$	353,997	$	99,388	$	377,642	$	233,252
NET ASSET VALUE PER INTEREST	$	9.64	$	10.30	$	10.68	$	9.97	$	8.65	$	10.08	$	13.53

		Grant		Greenhill		Gretal		Grove		Hadden		Hansard		Hansel
ASSETS
Current assets:
Cash	$	7,800	$	6,896	$	11,215	$	4,527	$	2,841	$	13,203	$	7,532
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		5,436		5,872		4,810		3,607		3,579		6,510		(2,086)
Property and equipment, net		333,515		290,741		409,332		205,144		201,284		277,238		367,195
Total assets	$	352,699	$	310,881	$	425,356	$	217,491	$	212,397	$	296,951	$	380,184

LIABILITIES
Current liabilities:
Accrued expenses	$	3,037	$	4,981	$	1,849	$	2,500	$	3,300	$	2,010	$	1,843
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,653		7,098		9,916		8,114		11,712		6,347		12,325
Tenant deposits		-		3,119		2,395		1,869		1,695		4,840		-
Note payable, related party		-		6,100		-		11,100		6,800		-		22,600
Mortgage payables		256,719		225,681		-		155,837		141,937		-		197,804
Total liabilities	$	267,409	$	246,978	$	14,161	$	179,419	$	165,444	$	13,197	$	234,573

MEMBERS' EQUITY (DEFICIT)
Members' capital		112,629		89,374		421,935		79,470		77,155		272,830		221,379
Accumulated deficit		(27,339)		(25,472)		(10,740)		(41,398)		(30,202)		10,924		(75,768)
Total members' equity (deficit)	$	85,290	$	63,903	$	411,195	$	38,072	$	46,953	$	283,755	$	145,611
Total liabilities and members' equity (deficit)	$	352,699	$	310,881	$	425,356	$	217,491	$	212,397	$	296,951	$	380,184

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		85,290		63,903		411,195		38,072		46,953		283,755		145,611
Net adjustments to fair value		112,683		68,850		93,381		56,334		49,216		129,048		72,357
TOTAL NET ASSETS	$	197,973	$	132,753	$	504,577	$	94,407	$	96,169	$	412,803	$	217,967
NET ASSET VALUE PER INTEREST	$	12.23	$	9.72	$	9.65	$	9.24	$	8.81	$	11.72	$	8.16

		Hargrave		Harrison		Henry		Heritage		Heron		Highland		Hines
ASSETS
Current assets:
Cash	$	7,317	$	9,849	$	7,440	$	834	$	4,936	$	6,800	$	7,963
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,712		5,161		2,030		1,951		4,131		3,911		2,795
Property and equipment, net		217,856		414,047		388,194		262,449		258,789		258,859		233,634
Total assets	$	228,885	$	436,082	$	397,664	$	271,400	$	273,853	$	269,570	$	244,392

LIABILITIES
Current liabilities:
Accrued expenses	$	3,671	$	1,777	$	3,815	$	3,130	$	3,776	$	2,826	$	1,859
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		3,849		10,888		10,987		7,506		11,511		7,157		12,198
Tenant deposits		1,945		3,045		2,395		1,995		2,369		1,845		1,845
Note payable, related party		10,300		-		45,500		19,300		7,100		6,900		8,200
Mortgage payables		-		225,304		-		201,037		198,950		-		-
Total liabilities	$	19,765	$	241,014	$	62,698	$	232,968	$	223,705	$	18,728	$	24,102

MEMBERS' EQUITY (DEFICIT)
Members' capital		240,434		233,095		399,905		96,083		97,295		261,885		239,288
Accumulated deficit		(31,314)		(38,027)		(64,939)		(57,651)		(47,147)		(11,044)		(18,998)
Total members' equity (deficit)	$	209,120	$	195,068	$	334,966	$	38,432	$	50,148	$	250,841	$	220,290
Total liabilities and members' equity (deficit)	$	228,885	$	436,082	$	397,664	$	271,400	$	273,853	$	269,570	$	244,392

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		209,120		195,068		334,966		38,432		50,148		250,841		220,290
Net adjustments to fair value		54,909		95,067		35,043		56,507		84,316		60,953		65,178
TOTAL NET ASSETS	$	264,029	$	290,135	$	370,009	$	94,939	$	134,464	$	311,795	$	285,467
NET ASSET VALUE PER INTEREST	$	9.42	$	9.66	$	7.87	$	7.60	$	10.59	$	9.69	$	9.69

		Hobbes		Holcomb		Holland		Hollandaise		Holloway		Inglewood		Irene
ASSETS
Current assets:
Cash	$	5,141	$	13,052	$	6,917	$	7,651	$	5,698	$	11,561	$	12,734
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,469		67		2,924		(3,162)		5,346		(5,857)		2,696
Property and equipment, net		218,141		319,447		185,355		326,834		296,010		614,376		163,604
Total assets	$	226,751	$	332,566	$	200,101	$	337,700	$	311,948	$	620,080	$	179,035

LIABILITIES
Current liabilities:
Accrued expenses	$	3,382	$	3,106	$	2,006	$	1,880	$	4,754	$	3,213	$	3,616
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		4,712		16,690		11,225		8,765		11,209		15,300		2,852
Tenant deposits		1,695		2,095		2,168		-		3,119		-		1,395
Note payable, related party		-		-		-		18,500		9,900		-		-
Mortgage payables		-		-		145,436		253,212		218,533		-		-
Total liabilities	$	9,789	$	21,890	$	160,835	$	282,357	$	247,515	$	18,512	$	7,863

MEMBERS' EQUITY (DEFICIT)
Members' capital		235,477		324,486		77,035		129,288		109,373		648,487		166,058
Accumulated deficit		(18,515)		(13,811)		(37,768)		(73,944)		(44,940)		(46,919)		5,114
Total members' equity (deficit)	$	216,962	$	310,675	$	39,267	$	55,344	$	64,433	$	601,568	$	171,172
Total liabilities and members' equity (deficit)	$	226,751	$	332,566	$	200,101	$	337,700	$	311,948	$	620,080	$	179,035

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		216,962		310,675		39,267		55,344		64,433		601,568		171,172
Net adjustments to fair value		60,012		11,989		71,422		94,833		133,632		113,490		32,047
TOTAL NET ASSETS	$	276,974	$	322,665	$	110,689	$	150,176	$	198,065	$	715,058	$	203,218
NET ASSET VALUE PER INTEREST	$	9.88	$	7.89	$	10.95	$	9.16	$	13.42	$	9.20	$	9.43

		Jack		Jake		Jefferson		Jill		Johnny		June		Jupiter
ASSETS
Current assets:
Cash	$	7,280	$	5,522	$	12,671	$	7,086	$	3,264	$	7,677	$	7,201
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		5,135		(776)		4,541		4,349		(454)		5,381		2,943
Property and equipment, net		373,488		530,090		251,013		362,686		528,394		528,394		185,184
Total assets	$	392,720	$	534,836	$	268,226	$	382,788	$	531,204	$	541,452	$	199,261

LIABILITIES
Current liabilities:
Accrued expenses	$	1,886	$	4,208	$	1,727	$	1,731	$	2,617	$	2,603	$	2,020
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		12,544		32,086		5,765		11,417		28,500		26,685		5,125
Tenant deposits		3,143		-		2,595		2,195		-		2,945		1,550
Note payable, related party		17,200		16,900		-		-		15,200		12,600		6,900
Mortgage payables		287,112		-		-		197,127		-		-		138,231
Total liabilities	$	321,885	$	53,194	$	10,087	$	212,470	$	46,316	$	44,833	$	153,827

MEMBERS' EQUITY (DEFICIT)
Members' capital		139,265		563,175		240,229		212,164		552,405		554,349		75,390
Accumulated deficit		(68,431)		(81,533)		17,909		(41,846)		(67,518)		(57,730)		(29,956)
Total members' equity (deficit)	$	70,834	$	481,642	$	258,138	$	170,318	$	484,888	$	496,619	$	45,434
Total liabilities and members' equity (deficit)	$	392,720	$	534,836	$	268,226	$	382,788	$	531,204	$	541,452	$	199,261

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		70,834		481,642		258,138		170,318		484,888		496,619		45,434
Net adjustments to fair value		98,053		55,379		73,522		65,330		64,351		63,154		71,539
TOTAL NET ASSETS	$	168,887	$	537,022	$	331,660	$	235,648	$	549,239	$	559,773	$	116,974
NET ASSET VALUE PER INTEREST	$	9.20	$	8.06	$	10.39	$	8.79	$	8.30	$	8.44	$	11.14

		Kawana		Kennesaw		Kenny		KerriAnn		Kessler		Kingsley		Kirkwood
ASSETS
Current assets:
Cash	$	172	$	9,291	$	8,153	$	3,649	$	5,112	$	4,533	$	3,218
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		879		5,713		5,461		5,865		2,873		5,064		3,132
Property and equipment, net		246,073		383,261		622,185		299,760		234,619		274,638		239,394
Total assets	$	251,378	$	398,265	$	635,799	$	313,477	$	247,806	$	288,488	$	250,783

LIABILITIES
Current liabilities:
Accrued expenses	$	1,821	$	3,046	$	2,811	$	2,715	$	4,291	$	5,726	$	2,558
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		14,285		19,423		20,332		14,714		8,319		7,696		8,117
Tenant deposits		-		2,795		2,945		1,995		1,595		2,395		1,650
Note payable, related party		-		-		5,100		23,600		13,600		22,200		34,100
Mortgage payables		190,617		-		-		235,766		125,595		212,583		180,173
Total liabilities	$	206,723	$	25,264	$	31,188	$	278,790	$	153,401	$	250,600	$	226,598

MEMBERS' EQUITY (DEFICIT)
Members' capital		84,911		395,764		673,368		113,932		145,024		94,327		86,729
Accumulated deficit		(40,256)		(22,763)		(68,758)		(79,245)		(50,619)		(56,439)		(62,544)
Total members' equity (deficit)	$	44,656	$	373,001	$	604,611	$	34,687	$	94,405	$	37,888	$	24,185
Total liabilities and members' equity (deficit)	$	251,378	$	398,265	$	635,799	$	313,477	$	247,806	$	288,488	$	250,783

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		44,656		373,001		604,611		34,687		94,405		37,888		24,185
Net adjustments to fair value		63,591		78,351		83,016		78,096		71,194		120,324		64,506
TOTAL NET ASSETS	$	108,247	$	451,352	$	687,627	$	112,782	$	165,600	$	158,213	$	88,691
NET ASSET VALUE PER INTEREST	$	8.53	$	9.31	$	8.77	$	7.86	$	9.71	$	12.54	$	7.82

		Korin		Lallie		Lanier		Lannister		Latte		Lennox		Lierly
ASSETS
Current assets:
Cash	$	13,543	$	4,954	$	4,151	$	6,316	$	13,120	$	5,282	$	12,928
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,490		5,131		4,923		1,602		5,062		3,458		3,425
Property and equipment, net		253,849		327,995		341,715		158,910		329,047		188,747		183,564
Total assets	$	270,883	$	345,025	$	356,137	$	170,781	$	347,229	$	199,722	$	199,917

LIABILITIES
Current liabilities:
Accrued expenses	$	5,656	$	7,500	$	3,317	$	2,100	$	3,450	$	3,293	$	7,854
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		5,879		45,736		10,490		10,307		16,646		6,164		5,261
Tenant deposits		1,995		2,495		2,295		1,395		2,195		1,795		1,750
Note payable, related party		-		57,200		11,800		18,700		12,600		9,700		-
Mortgage payables		-		237,871		261,542		112,848		-		137,955		131,955
Total liabilities	$	13,530	$	350,801	$	289,444	$	145,351	$	34,891	$	158,907	$	146,820

MEMBERS' EQUITY (DEFICIT)
Members' capital		243,123		121,831		123,079		73,820		335,580		66,088		51,013
Accumulated deficit		14,230		(127,607)		(56,386)		(48,390)		(23,243)		(25,273)		2,084
Total members' equity (deficit)	$	257,352	$	(5,776)	$	66,693	$	25,430	$	312,338	$	40,815	$	53,097
Total liabilities and members' equity (deficit)	$	270,883	$	345,025	$	356,137	$	170,781	$	347,229	$	199,722	$	199,917

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		257,352		(5,776)		66,693		25,430		312,338		40,815		53,097
Net adjustments to fair value		97,033		99,463		88,097		53,537		110,940		94,749		194,068
TOTAL NET ASSETS	$	354,386	$	93,687	$	154,790	$	78,967	$	423,277	$	135,564	$	247,165
NET ASSET VALUE PER INTEREST	$	10.93	$	5.91	$	9.38	$	8.34	$	10.29	$	12.80	$	26.14

		Lily		Limestone		Litton		Longwoods		Lookout		Loretta		Louis
ASSETS
Current assets:
Cash	$	5,667	$	4,634	$	11,891	$	7,041	$	10,192	$	8,649	$	17,929
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,258		4,583		3,712		3,233		4,226		9,593		3,915
Property and equipment, net		468,328		256,211		292,560		249,874		310,566		619,199		249,796
Total assets	$	488,350	$	271,952	$	308,163	$	260,148	$	324,984	$	637,441	$	271,640

LIABILITIES
Current liabilities:
Accrued expenses	$	3,600	$	4,521	$	2,186	$	3,487	$	1,476	$	3,189	$	2,239
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		15,727		9,710		7,238		11,456		15,261		15,652		4,973
Tenant deposits		2,395		2,095		2,545		1,950		2,245		6,390		2,145
Note payable, related party		64,000		21,400		-		-		-		3,200		-
Mortgage payables		308,894		201,081		158,800		-		-		-		-
Total liabilities	$	394,616	$	238,806	$	170,769	$	16,893	$	18,982	$	28,431	$	9,357

MEMBERS' EQUITY (DEFICIT)
Members' capital		204,164		102,493		156,517		266,216		303,715		633,993		257,508
Accumulated deficit		(110,430)		(69,347)		(19,123)		(22,962)		2,287		(24,983)		4,775
Total members' equity (deficit)	$	93,735	$	33,146	$	137,394	$	243,254	$	306,002	$	609,011	$	262,283
Total liabilities and members' equity (deficit)	$	488,350	$	271,952	$	308,163	$	260,148	$	324,984	$	637,441	$	271,640

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		93,735		33,146		137,394		243,254		306,002		609,011		262,283
Net adjustments to fair value		79,445		93,013		106,855		67,451		70,605		118,235		71,726
TOTAL NET ASSETS	$	173,180	$	126,159	$	244,249	$	310,705	$	376,607	$	727,246	$	334,009
NET ASSET VALUE PER INTEREST	$	7.20	$	9.20	$	11.42	$	9.67	$	9.76	$	9.56	$	10.30

		Louise		Lovejoy		Luna		Lurleen		Madison		Mae		Magnolia
ASSETS
Current assets:
Cash	$	6,081	$	3,042	$	4,864	$	4,435	$	5,641	$	7,153	$	3,933
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,071		3,094		3,425		3,166		2,013		6,536		4,619
Property and equipment, net		246,913		262,881		187,259		203,838		185,211		319,398		226,856
Total assets	$	262,380	$	275,868	$	199,096	$	211,438	$	196,512	$	333,087	$	240,670

LIABILITIES
Current liabilities:
Accrued expenses	$	1,803	$	3,395	$	3,763	$	2,879	$	1,806	$	4,258	$	2,343
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,304		11,115		6,950		8,887		6,931		10,770		6,907
Tenant deposits		1,895		1,995		1,895		1,695		2,174		4,190		3,290
Note payable, related party		-		12,300		17,800		12,400		15,900		-		23,800
Mortgage payables		180,179		203,142		148,125		109,129		100,073		-		171,329
Total liabilities	$	191,181	$	231,947	$	178,532	$	134,990	$	126,883	$	19,219	$	207,668

MEMBERS' EQUITY (DEFICIT)
Members' capital		87,735		90,617		58,141		119,682		110,186		321,570		86,594
Accumulated deficit		(16,536)		(46,696)		(37,577)		(43,233)		(40,557)		(7,702)		(53,592)
Total members' equity (deficit)	$	71,199	$	43,921	$	20,564	$	76,449	$	69,629	$	313,868	$	33,002
Total liabilities and members' equity (deficit)	$	262,380	$	275,868	$	199,096	$	211,438	$	196,512	$	333,087	$	240,670

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		71,199		43,921		20,564		76,449		69,629		313,868		33,002
Net adjustments to fair value		70,796		31,813		92,891		57,443		34,919		85,640		42,968
TOTAL NET ASSETS	$	141,996	$	75,734	$	113,455	$	133,892	$	104,548	$	399,508	$	75,971
NET ASSET VALUE PER INTEREST	$	10.73	$	5.93	$	12.64	$	8.71	$	7.68	$	9.92	$	6.83

		Malbec		Mammoth		Marcelo		Marie		Marietta		Marion		Marple
ASSETS
Current assets:
Cash	$	4,807	$	2,882	$	6,698	$	13,657	$	5,259	$	6,606	$	5,960
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		2,592		3,914		3,310		5,094		4,533		4,129		5,714
Property and equipment, net		277,225		305,342		257,488		292,158		273,609		241,702		162,800
Total assets	$	288,687	$	320,089	$	267,495	$	310,909	$	289,691	$	252,437	$	174,474

LIABILITIES
Current liabilities:
Accrued expenses	$	6,686	$	4,170	$	2,164	$	1,436	$	4,316	$	2,714	$	2,721
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,775		12,738		6,702		6,696		10,325		6,229		5,267
Tenant deposits		2,195		2,095		1,750		2,745		2,195		2,295		1,943
Note payable, related party		6,500		44,300		-		-		18,900		5,800		-
Mortgage payables		205,224		235,817		-		-		148,784		-		-
Total liabilities	$	228,380	$	299,120	$	10,616	$	10,878	$	184,519	$	17,038	$	9,930

MEMBERS' EQUITY (DEFICIT)
Members' capital		90,543		118,444		263,343		273,521		168,699		252,883		175,560
Accumulated deficit		(30,236)		(97,474)		(6,464)		26,510		(63,528)		(17,485)		(11,016)
Total members' equity (deficit)	$	60,307	$	20,970	$	256,879	$	300,031	$	105,172	$	235,399	$	164,544
Total liabilities and members' equity (deficit)	$	288,687	$	320,089	$	267,495	$	310,909	$	289,691	$	252,437	$	174,474

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		60,307		20,970		256,879		300,031		105,172		235,399		164,544
Net adjustments to fair value		173,697		84,916		81,938		138,573		81,384		77,267		32,442
TOTAL NET ASSETS	$	234,004	$	105,886	$	338,817	$	438,604	$	186,556	$	312,665	$	196,986
NET ASSET VALUE PER INTEREST	$	16.99	$	7.23	$	10.03	$	11.85	$	9.26	$	10.28	$	9.26

		Martell		Mary		Matchingham		McGregor		McLovin		Meadow		Mimosa
ASSETS
Current assets:
Cash	$	5,961	$	11,255	$	4,336	$	7,326	$	3,425	$	2,405	$	4,328
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		1,941		4,108		3,615		3,680		7,281		5,404		2,835
Property and equipment, net		241,125		251,931		185,765		269,950		490,310		281,389		192,549
Total assets	$	249,027	$	267,294	$	196,446	$	280,956	$	513,694	$	294,901	$	199,712

LIABILITIES
Current liabilities:
Accrued expenses	$	3,129	$	1,769	$	3,892	$	1,977	$	4,481	$	2,310	$	2,113
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		13,973		5,029		8,209		17,119		26,936		14,766		15,590
Tenant deposits		2,595		2,095		1,895		1,895		2,995		-		-
Note payable, related party		6,200		-		-		-		20,900		-		5,800
Mortgage payables		-		-		144,798		-		364,510		212,906		106,783
Total liabilities	$	25,897	$	8,893	$	158,795	$	20,991	$	419,822	$	229,981	$	130,286

MEMBERS' EQUITY (DEFICIT)
Members' capital		256,112		245,512		54,216		267,742		157,605		120,082		113,539
Accumulated deficit		(32,982)		12,889		(16,565)		(7,778)		(63,733)		(55,162)		(44,114)
Total members' equity (deficit)	$	223,130	$	258,401	$	37,651	$	259,965	$	93,872	$	64,920	$	69,426
Total liabilities and members' equity (deficit)	$	249,027	$	267,294	$	196,446	$	280,956	$	513,694	$	294,901	$	199,712

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		223,130		258,401		37,651		259,965		93,872		64,920		69,426
Net adjustments to fair value		80,003		80,394		68,483		83,670		85,449		95,506		72,537
TOTAL NET ASSETS	$	303,133	$	338,795	$	106,135	$	343,634	$	179,321	$	160,426	$	141,962
NET ASSET VALUE PER INTEREST	$	9.79	$	10.67	$	11.26	$	9.97	$	8.17	$	10.45	$	9.47

		Mojave		Murphy		Mycroft		Nugget		Odessa		Olive		Oly
ASSETS
Current assets:
Cash	$	6,350	$	4,024	$	5,591	$	7,369	$	7,813	$	4,135	$	5,547
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,925		3,701		2,797		5,825		6,248		7,266		5,636
Property and equipment, net		211,478		261,543		166,488		503,922		468,579		203,034		472,264
Total assets	$	225,323	$	277,041	$	174,876	$	517,116	$	490,313	$	220,733	$	492,888

LIABILITIES
Current liabilities:
Accrued expenses	$	5,044	$	4,151	$	2,947	$	3,947	$	4,328	$	4,005	$	3,577
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,237		7,320		6,477		30,729		12,707		9,523		12,282
Tenant deposits		2,195		1,995		1,395		3,145		3,395		1,895		2,995
Note payable, related party		6,900		5,300		-		-		41,400		19,000		6,000
Mortgage payables		160,430		205,309		-		-		371,495		124,419		365,212
Total liabilities	$	181,807	$	224,074	$	10,819	$	37,821	$	433,325	$	158,842	$	390,066

MEMBERS' EQUITY (DEFICIT)
Members' capital		57,438		88,540		171,539		508,301		175,121		100,987		157,986
Accumulated deficit		(13,922)		(35,573)		(7,482)		(29,006)		(118,133)		(39,097)		(55,164)
Total members' equity (deficit)	$	43,516	$	52,967	$	164,057	$	479,296	$	56,989	$	61,890	$	102,822
Total liabilities and members' equity (deficit)	$	225,323	$	277,041	$	174,876	$	517,116	$	490,313	$	220,733	$	492,888

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		43,516		52,967		164,057		479,296		56,989		61,890		102,822
Net adjustments to fair value		112,091		109,219		33,973		20,938		116,878		87,252		80,394
TOTAL NET ASSETS	$	155,608	$	162,186	$	198,030	$	500,234	$	173,866	$	149,142	$	183,215
NET ASSET VALUE PER INTEREST	$	14.99	$	12.43	$	9.12	$	8.01	$	7.95	$	10.92	$	8.39

		Onyx		Oscar		Osceola		Osprey		Otoro		Palmer		Patrick
ASSETS
Current assets:
Cash	$	7,285	$	6,087	$	8,370	$	5,436	$	4,752	$	5,781	$	4,262
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		2,746		4,908		740		3,097		9,434		4,030		3,766
Property and equipment, net		308,358		235,028		259,898		316,697		354,905		281,060		182,592
Total assets	$	318,389	$	246,023	$	269,008	$	325,230	$	376,184	$	290,871	$	190,620

LIABILITIES
Current liabilities:
Accrued expenses	$	2,666	$	1,927	$	3,609	$	4,958	$	6,159	$	2,477	$	6,556
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,325		4,471		4,995		18,533		30,296		9,909		7,711
Tenant deposits		2,395		2,793		1,995		2,295		2,319		1,895		2,195
Note payable, related party		-		-		8,200		-		78,700		6,000		-
Mortgage payables		-		-		-		-		271,982		-		108,593
Total liabilities	$	12,386	$	9,190	$	18,799	$	25,785	$	389,456	$	20,281	$	125,056

MEMBERS' EQUITY (DEFICIT)
Members' capital		314,581		248,961		289,785		328,665		130,815		286,461		82,075
Accumulated deficit		(8,578)		(12,128)		(39,575)		(29,220)		(144,087)		(15,871)		(16,511)
Total members' equity (deficit)	$	306,003	$	236,833	$	250,210	$	299,445	$	(13,272)	$	270,590	$	65,564
Total liabilities and members' equity (deficit)	$	318,389	$	246,023	$	269,008	$	325,230	$	376,184	$	290,871	$	190,620

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		306,003		236,833		250,210		299,445		(13,272)		270,590		65,564
Net adjustments to fair value		60,440		53,419		61,870		94,618		81,330		66,295		123,453
TOTAL NET ASSETS	$	366,442	$	290,252	$	312,079	$	394,063	$	68,058	$	336,885	$	189,017
NET ASSET VALUE PER INTEREST	$	9.54	$	9.72	$	9.32	$	9.78	$	4.01	$	9.70	$	16.71

		Peanut		Pearl		Pecan		Peterson		Piedmont		Pinot		Pioneer
ASSETS
Current assets:
Cash	$	5,328	$	7,048	$	11,242	$	15,089	$	4,454	$	7,371	$	6,654
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,417		5,249		3,839		3,230		4,577		3,217		6,391
Property and equipment, net		193,176		491,145		178,674		211,076		346,557		279,904		528,259
Total assets	$	205,216	$	503,441	$	193,755	$	229,395	$	365,237	$	297,410	$	541,304

LIABILITIES
Current liabilities:
Accrued expenses	$	1,462	$	2,554	$	6,914	$	1,973	$	3,333	$	6,673	$	3,574
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		7,668		29,240		5,885		3,609		13,159		7,176		26,298
Tenant deposits		2,093		2,745		2,295		1,650		2,295		2,395		3,445
Note payable, related party		-		7,800		-		-		-		5,900		-
Mortgage payables		145,405		-		113,158		-		188,462		207,354		-
Total liabilities	$	156,627	$	42,339	$	128,252	$	7,232	$	207,249	$	229,498	$	33,317

MEMBERS' EQUITY (DEFICIT)
Members' capital		67,636		515,570		63,466		218,984		215,613		88,929		538,069
Accumulated deficit		(19,046)		(54,468)		2,037		3,179		(57,626)		(21,017)		(30,083)
Total members' equity (deficit)	$	48,589	$	461,102	$	65,503	$	222,164	$	157,987	$	67,912	$	507,987
Total liabilities and members' equity (deficit)	$	205,216	$	503,441	$	193,755	$	229,395	$	365,237	$	297,410	$	541,304

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		48,589		461,102		65,503		222,164		157,987		67,912		507,987
Net adjustments to fair value		47,209		60,371		127,086		55,414		4,923		171,127		41,818
TOTAL NET ASSETS	$	95,798	$	521,473	$	192,589	$	277,577	$	162,911	$	239,039	$	549,805
NET ASSET VALUE PER INTEREST	$	9.79	$	8.52	$	18.01	$	10.24	$	6.32	$	17.21	$	8.44

		Plumtree		Point		Porthos		Quincy		Redondo		Regency		Reginald
ASSETS
Current assets:
Cash	$	4,077	$	5,566	$	9,220	$	9,180	$	6,593	$	6,291	$	4,720
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		6,006		3,835		4,291		(4,728)		4,208		4,373		4,279
Property and equipment, net		172,563		342,997		280,650		493,459		285,535		259,320		418,683
Total assets	$	182,646	$	358,374	$	294,161	$	497,912	$	296,336	$	269,984	$	427,682

LIABILITIES
Current liabilities:
Accrued expenses	$	7,331	$	2,448	$	4,070	$	3,366	$	3,878	$	5,071	$	4,591
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		6,992		8,959		5,735		13,117		9,692		9,654		14,950
Tenant deposits		1,595		2,095		2,295		-		2,195		2,295		2,195
Note payable, related party		-		17,600		-		24,400		9,300		5,000		82,500
Mortgage payables		111,862		265,367		-		-		156,384		136,411		-
Total liabilities	$	127,779	$	296,470	$	12,100	$	40,883	$	181,449	$	158,432	$	104,235

MEMBERS' EQUITY (DEFICIT)
Members' capital		61,705		127,663		283,940		509,075		170,451		137,650		433,598
Accumulated deficit		(6,839)		(65,758)		(1,880)		(52,046)		(55,564)		(26,098)		(110,151)
Total members' equity (deficit)	$	54,867	$	61,905	$	282,060	$	457,029	$	114,887	$	111,552	$	323,447
Total liabilities and members' equity (deficit)	$	182,646	$	358,374	$	294,161	$	497,912	$	296,336	$	269,984	$	427,682

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		54,867		61,905		282,060		457,029		114,887		111,552		323,447
Net adjustments to fair value		123,128		77,274		63,421		68,644		101,800		128,772		57,853
TOTAL NET ASSETS	$	177,994	$	139,178	$	345,482	$	525,673	$	216,687	$	240,324	$	381,300
NET ASSET VALUE PER INTEREST	$	16.36	$	8.39	$	9.67	$	8.61	$	10.25	$	12.92	$	7.64

		Reynolds		Ribbonwalk		Richardson		Richmond		Ridge		Ritter		River
ASSETS
Current assets:
Cash	$	17,122	$	6,314	$	11,579	$	14,735	$	4,377	$	9,218	$	6,377
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,628		4,523		3,704		5,479		1,653		4,786		3,147
Property and equipment, net		387,761		281,450		284,001		355,757		189,618		454,059		232,242
Total assets	$	409,511	$	297,992	$	299,284	$	375,972	$	201,222	$	468,064	$	245,074

LIABILITIES
Current liabilities:
Accrued expenses	$	3,563	$	2,626	$	5,349	$	4,335	$	3,626	$	2,465	$	3,118
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		19,767		38,196		7,146		6,091		5,743		23,326		9,227
Tenant deposits		2,495		2,195		1,895		3,443		2,543		2,495		2,993
Note payable, related party		-		12,000		-		-		5,600		15,800		-
Mortgage payables		-		221,941		-		-		138,599		-		170,543
Total liabilities	$	25,825	$	276,959	$	14,390	$	13,869	$	156,110	$	44,085	$	185,880

MEMBERS' EQUITY (DEFICIT)
Members' capital		386,241		109,465		287,619		372,843		68,160		480,265		80,529
Accumulated deficit		(2,554)		(88,433)		(2,725)		(10,740)		(23,047)		(56,287)		(21,335)
Total members' equity (deficit)	$	383,686	$	21,033	$	284,894	$	362,103	$	45,113	$	423,978	$	59,194
Total liabilities and members' equity (deficit)	$	409,511	$	297,992	$	299,284	$	375,972	$	201,222	$	468,064	$	245,074

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		383,686		21,033		284,894		362,103		45,113		423,978		59,194
Net adjustments to fair value		13,316		117,814		97,615		77,212		70,984		105,757		104,022
TOTAL NET ASSETS	$	397,002	$	138,847	$	382,509	$	439,315	$	116,097	$	529,736	$	163,216
NET ASSET VALUE PER INTEREST	$	8.08	$	10.00	$	10.42	$	9.80	$	11.16	$	9.14	$	12.86

		Riverwalk		Rooney		Roseberry		Rosewood		Roxy		Saddlebred		Saint
ASSETS
Current assets:
Cash	$	13,474	$	1,406	$	4,460	$	8,437	$	6,848	$	7,347	$	7,641
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		5,272		3,421		8,717		4,413		4,162		4,918		(280)
Property and equipment, net		356,396		331,431		286,582		242,970		292,636		422,908		288,559
Total assets	$	375,141	$	343,263	$	308,967	$	257,998	$	309,884	$	440,265	$	301,374

LIABILITIES
Current liabilities:
Accrued expenses	$	1,690	$	2,251	$	5,246	$	1,789	$	2,141	$	3,263	$	3,587
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		18,389		14,148		8,356		6,080		8,254		10,945		6,923
Tenant deposits		2,845		2,495		3,443		2,768		1,995		3,045		-
Note payable, related party		-		9,400		13,000		4,100		15,200		23,400		-
Mortgage payables		-		256,719		209,291		187,127		218,424		329,761		209,990
Total liabilities	$	22,923	$	285,013	$	239,336	$	201,865	$	246,013	$	370,413	$	220,500

MEMBERS' EQUITY (DEFICIT)
Members' capital		358,593		117,830		101,708		86,857		105,930		160,566		91,913
Accumulated deficit		(6,375)		(59,580)		(32,077)		(30,724)		(42,060)		(90,714)		(11,039)
Total members' equity (deficit)	$	352,218	$	58,250	$	69,631	$	56,133	$	63,871	$	69,852	$	80,874
Total liabilities and members' equity (deficit)	$	375,141	$	343,263	$	308,967	$	257,998	$	309,884	$	440,265	$	301,374

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		352,218		58,250		69,631		56,133		63,871		69,852		80,874
Net adjustments to fair value		98,150		81,777		100,406		72,049		64,688		81,983		32,870
TOTAL NET ASSETS	$	450,367	$	140,027	$	170,037	$	128,182	$	128,558	$	151,835	$	113,744
NET ASSET VALUE PER INTEREST	$	10.09	$	8.97	$	11.63	$	10.62	$	8.98	$	7.68	$	7.70

		Sajni		Salem		Salinas		Saturn		Scepter		Sequoyah		Shallowford
ASSETS
Current assets:
Cash	$	6,334	$	6,981	$	6,587	$	4,403	$	6,617	$	6,935	$	6,875
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		(8,231)		2,317		3,345		3,233		3,666		(2,924)		3,999
Property and equipment, net		300,984		277,194		214,017		189,507		241,891		228,909		325,999
Total assets	$	299,087	$	292,199	$	223,949	$	199,708	$	256,395	$	232,920	$	343,622

LIABILITIES
Current liabilities:
Accrued expenses	$	1,240	$	6,743	$	2,292	$	2,108	$	3,265	$	5,703	$	2,378
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		14,023		7,767		8,587		10,631		7,164		5,844		10,871
Tenant deposits		2,445		2,195		1,945		1,495		2,195		-		2,095
Note payable, related party		33,700		19,500		20,300		11,900		6,800		23,500		14,500
Mortgage payables		-		209,124		-		138,236		187,164		123,070		177,164
Total liabilities	$	51,408	$	245,329	$	33,124	$	164,370	$	206,588	$	158,117	$	207,007

MEMBERS' EQUITY (DEFICIT)
Members' capital		286,988		91,310		219,584		80,991		86,535		133,436		201,871
Accumulated deficit		(39,309)		(44,440)		(28,758)		(45,653)		(36,727)		(58,633)		(65,257)
Total members' equity (deficit)	$	247,679	$	46,870	$	190,825	$	35,337	$	49,807	$	74,803	$	136,615
Total liabilities and members' equity (deficit)	$	299,087	$	292,199	$	223,949	$	199,708	$	256,395	$	232,920	$	343,622

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		247,679		46,870		190,825		35,337		49,807		74,803		136,615
Net adjustments to fair value		105,705		173,974		107,991		69,860		46,105		88,505		75,366
TOTAL NET ASSETS	$	353,384	$	220,844	$	298,816	$	105,198	$	95,912	$	163,307	$	211,981
NET ASSET VALUE PER INTEREST	$	10.09	$	16.62	$	10.99	$	10.17	$	8.26	$	9.71	$	8.71

		Shoreline		Sigma		Simon		Sims		Soapstone		Sodalis		Spencer
ASSETS
Current assets:
Cash	$	4,184	$	5,460	$	12,423	$	10,424	$	8,849	$	8,274	$	13,631
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		4,954		3,988		4,340		4,703		4,240		3,592		3,808
Property and equipment, net		270,620		339,869		269,065		253,059		195,098		276,557		261,810
Total assets	$	283,452	$	355,407	$	285,828	$	268,187	$	208,187	$	288,382	$	281,164

LIABILITIES
Current liabilities:
Accrued expenses	$	4,453	$	2,931	$	1,765	$	2,395	$	8,061	$	6,976	$	3,879
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		10,296		9,637		5,467		5,289		5,552		7,012		11,660
Tenant deposits		2,095		2,869		2,345		2,768		2,350		1,895		2,349
Note payable, related party		30,200		-		-		-		3,900		30,200		9,400
Mortgage payables		210,103		267,137		-		-		129,102		-		192,750
Total liabilities	$	257,148	$	282,574	$	9,576	$	10,451	$	148,965	$	46,082	$	220,039

MEMBERS' EQUITY (DEFICIT)
Members' capital		94,096		112,486		269,874		259,288		64,752		277,711		91,238
Accumulated deficit		(67,792)		(39,652)		6,377		(1,553)		(5,529)		(35,412)		(30,112)
Total members' equity (deficit)	$	26,304	$	72,833	$	276,251	$	257,735	$	59,223	$	242,299	$	61,126
Total liabilities and members' equity (deficit)	$	283,452	$	355,407	$	285,828	$	268,187	$	208,187	$	288,382	$	281,164

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		26,304		72,833		276,251		257,735		59,223		242,299		61,126
Net adjustments to fair value		92,991		91,524		83,577		55,105		178,522		55,080		103,725
TOTAL NET ASSETS	$	119,295	$	164,357	$	359,829	$	312,841	$	237,744	$	297,379	$	164,850
NET ASSET VALUE PER INTEREST	$	9.76	$	10.16	$	10.55	$	9.64	$	23.77	$	8.91	$	11.94

		Splash		Spring		Stonebriar		Sugar		Summerset		Sundance		Sunnyside
ASSETS
Current assets:
Cash	$	6,612	$	7,039	$	5,516	$	5,355	$	5,224	$	6,111	$	13,630
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,000		5,348		2,687		4,628		3,080		459		2,855
Property and equipment, net		195,504		223,358		182,088		271,368		229,564		289,447		202,620
Total assets	$	205,537	$	235,746	$	194,699	$	289,962	$	240,570	$	296,017	$	219,105

LIABILITIES
Current liabilities:
Accrued expenses	$	5,134	$	3,231	$	1,986	$	3,232	$	3,032	$	3,352	$	1,752
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		5,528		6,138		5,823		13,859		18,564		9,396		4,728
Tenant deposits		1,550		3,590		1,395		3,590		-		2,195		1,595
Note payable, related party		17,700		5,400		16,000		6,000		24,500		12,700		-
Mortgage payables		122,816		-		132,881		199,188		163,744		156,384		-
Total liabilities	$	152,728	$	18,359	$	158,086	$	225,870	$	209,840	$	184,027	$	8,075

MEMBERS' EQUITY (DEFICIT)
Members' capital		66,783		228,086		69,780		115,650		86,146		169,222		202,045
Accumulated deficit		(13,974)		(10,699)		(33,167)		(51,558)		(55,415)		(57,232)		8,985
Total members' equity (deficit)	$	52,809	$	217,387	$	36,614	$	64,092	$	30,731	$	111,989	$	211,029
Total liabilities and members' equity (deficit)	$	205,537	$	235,746	$	194,699	$	289,962	$	240,570	$	296,017	$	219,105

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		52,809		217,387		36,614		64,092		30,731		111,989		211,029
Net adjustments to fair value		117,904		58,045		42,659		105,115		109,731		95,352		68,609
TOTAL NET ASSETS	$	170,713	$	275,431	$	79,273	$	169,207	$	140,461	$	207,341	$	279,638
NET ASSET VALUE PER INTEREST	$	15.27	$	9.61	$	8.38	$	11.52	$	12.04	$	9.81	$	10.61

		Swift		Taylor		Terracotta		Theodore		Tulip		Tuscan		Tuscarora
ASSETS
Current assets:
Cash	$	7,525	$	7,101	$	3,872	$	10,248	$	2,549	$	11,402	$	13,926
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		3,702		2,749		3,544		4,297		531		3,203		5,148
Property and equipment, net		309,810		208,606		289,474		267,062		284,327		279,551		305,898
Total assets	$	321,037	$	222,209	$	302,591	$	281,607	$	293,400	$	294,156	$	324,972

LIABILITIES
Current liabilities:
Accrued expenses	$	3,090	$	1,747	$	5,230	$	1,759	$	2,287	$	10,474	$	3,574
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		16,127		11,158		12,850		5,134		11,357		8,345		7,010
Tenant deposits		2,195		848		1,745		2,245		-		2,295		2,895
Note payable, related party		-		20,700		32,400		-		24,300		-		-
Mortgage payables		-		112,323		220,523		-		219,821		181,802		-
Total liabilities	$	21,412	$	146,775	$	272,748	$	9,138	$	257,765	$	202,916	$	13,478

MEMBERS' EQUITY (DEFICIT)
Members' capital		310,410		133,656		109,209		270,934		99,347		101,055		307,829
Accumulated deficit		(10,785)		(58,221)		(79,367)		1,535		(63,712)		(9,815)		3,665
Total members' equity (deficit)	$	299,625	$	75,435	$	29,843	$	272,469	$	35,635	$	91,240	$	311,494
Total liabilities and members' equity (deficit)	$	321,037	$	222,209	$	302,591	$	281,607	$	293,400	$	294,156	$	324,972

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		299,625		75,435		29,843		272,469		35,635		91,240		311,494
Net adjustments to fair value		59,306		70,781		62,221		85,245		68,803		170,581		108,501
TOTAL NET ASSETS	$	358,931	$	146,216	$	92,063	$	357,714	$	104,438	$	261,821	$	419,995
NET ASSET VALUE PER INTEREST	$	9.09	$	9.18	$	6.59	$	10.55	$	7.47	$	15.91	$	10.79

		Tuxford		Vernon		Walton		Wave		Weldon		Wellington		Wentworth
ASSETS
Current assets:
Cash	$	3,808	$	4,690	$	8,107	$	3,349	$	6,002	$	7,940	$	7,470
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		2,375		4,726		(804)		8,381		2,096		4,449		3,500
Property and equipment, net		234,094		228,992		279,185		299,063		185,188		372,782		204,614
Total assets	$	248,919	$	244,410	$	286,488	$	317,444	$	197,247	$	385,171	$	219,331

LIABILITIES
Current liabilities:
Accrued expenses	$	4,613	$	3,707	$	5,415	$	4,686	$	2,067	$	3,824	$	4,956
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		12,561		8,152		14,187		17,236		9,456		9,225		5,738
Tenant deposits		1,995		2,843		-		3,890		2,168		2,395		1,595
Note payable, related party		25,800		7,400		37,500		94,200		-		8,200		-
Mortgage payables		176,707		180,038		-		221,914		135,002		-		155,381
Total liabilities	$	221,676	$	202,140	$	57,102	$	341,925	$	148,692	$	23,644	$	167,670

MEMBERS' EQUITY (DEFICIT)
Members' capital		90,702		79,635		283,013		110,927		75,791		381,753		55,498
Accumulated deficit		(63,459)		(37,366)		(53,627)		(135,409)		(27,237)		(20,226)		(3,837)
Total members' equity (deficit)	$	27,243	$	42,269	$	229,386	$	(24,482)	$	48,554	$	361,527	$	51,661
Total liabilities and members' equity (deficit)	$	248,919	$	244,410	$	286,488	$	317,444	$	197,247	$	385,171	$	219,331

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		27,243		42,269		229,386		(24,482)		48,554		361,527		51,661
Net adjustments to fair value		54,608		67,733		94,448		80,773		70,719		59,146		115,806
TOTAL NET ASSETS	$	81,851	$	110,002	$	323,835	$	56,291	$	119,274	$	420,673	$	167,466
NET ASSET VALUE PER INTEREST	$	6.79	$	9.48	$	9.44	$	4.03	$	11.69	$	8.94	$	15.18

		Wescott		Westchester		Wildwood		Willow		Wilson		Winchester		Windsor
ASSETS
Current assets:
Cash	$	1,996	$	6,341	$	7,115	$	5,853	$	8,647	$	5,990	$	7,110
Other receivables		-		-		-		-		-		-		-
Prepaid expenses		-		-		-		-		-		-		-
Deposits		740		5,220		3,241		2,825		4,177		(3,818)		5,770
Property and equipment, net		246,623		297,483		198,051		264,216		347,265		256,332		305,512
Total assets	$	250,936	$	314,649	$	212,185	$	272,894	$	360,089	$	258,504	$	326,108

LIABILITIES
Current liabilities:
Accrued expenses	$	2,155	$	5,911	$	1,560	$	4,345	$	6,670	$	2,646	$	6,715
Accounts payable		-		-		-		-		-		-		-
Due to (from) related parties		21,228		10,324		6,647		11,111		9,289		5,492		17,980
Tenant deposits		1,695		2,595		1,945		1,545		2,445		1,895		2,595
Note payable, related party		20,800		27,300		-		-		-		-		48,300
Mortgage payables		133,238		196,610		107,451		-		-		-		224,971
Total liabilities	$	179,117	$	242,740	$	117,603	$	17,001	$	18,404	$	10,033	$	300,561

MEMBERS' EQUITY (DEFICIT)
Members' capital		142,375		137,278		105,235		270,512		346,443		258,943		114,006
Accumulated deficit		(70,555)		(65,370)		(10,653)		(14,618)		(4,758)		(10,472)		(88,458)
Total members' equity (deficit)	$	71,819	$	71,909	$	94,582	$	255,893	$	341,685	$	248,472	$	25,547
Total liabilities and members' equity (deficit)	$	250,936	$	314,649	$	212,185	$	272,894	$	360,089	$	258,504	$	326,108

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		71,819		71,909		94,582		255,893		341,685		248,472		25,547
Net adjustments to fair value		62,874		93,480		77,229		48,255		106,161		57,644		141,315
TOTAL NET ASSETS	$	134,693	$	165,388	$	171,810	$	304,149	$	447,846	$	306,115	$	166,862
NET ASSET VALUE PER INTEREST	$	7.58	$	9.14	$	11.71	$	9.09	$	10.11	$	9.71	$	10.77

		Winston		Wisteria
ASSETS
Current assets:
Cash	$	8,400	$	990
Other receivables		-		-
Prepaid expenses		-		-
Deposits		5,492		(305)
Property and equipment, net		297,525		269,453
Total assets	$	311,417	$	274,416

LIABILITIES
Current liabilities:
Accrued expenses	$	2,454	$	2,001
Accounts payable		-		-
Due to (from) related parties		7,522		8,566
Tenant deposits		1,795		-
Note payable, related party		-		9,300
Mortgage payables		-		205,491
Total liabilities	$	11,771	$	225,358

MEMBERS' EQUITY (DEFICIT)
Members' capital		307,080		93,083
Accumulated deficit		(7,434)		(44,025)
Total members' equity (deficit)	$	299,646	$	49,058
Total liabilities and members' equity (deficit)	$	311,417	$	274,416

NET FAIR VALUE OF ASSETS
Net asset value with members' equity (without fair value adjustments)		299,646		49,058
Net adjustments to fair value		42,418		100,069
TOTAL NET ASSETS	$	342,065	$	149,127
NET ASSET VALUE PER INTEREST	$	9.00	$	11.68

[1] Estimated Balance Sheet as of May 31, 2026.

As described in the section "Description of the Securities Being Offered—Valuation Policies," in the Offering Circular, our operating agreement provides that, following the initial period, at the end of each quarterly period our Manager's internal accountants and asset management team will calculate our NAV using a process that reflects, among other matters:

●

an estimated value of our investments, as determined by the Manager's asset management team, including related liabilities, based upon (a) information from publicly available sources about (i) market rents, comparable sales information and interest rates and (ii) with respect to debt, default rates and discount rates, and (b) in certain instances reports of the underlying real estate provided by an independent valuation expert or automated valuation models;

●

the price of liquid assets for which third party market quotes are available;

●

accruals of our periodic distributions on our interests; and

●

estimated accruals of the revenues, fees and expenses where we will (a) amortize the brokerage fee, offering expenses and sourcing fee over five years and (b) include accrued fees and operating expenses, accrued distributions payable, accrued management fees and any inter-company loans extended to the Company by our Manager.

Such determinations may include subjective judgments by the Manager regarding the applicability of certain inputs to market rents and comparable sales information. We do not utilize a capitalization rate approach in determining NAV, because given the nature of our investments in primary residences, we do not believe that the value of a many of our assets can be determined based solely on the business activities as the resale value of such asset will be decided independently of the success of such business activities.

Note, however, that the determination of our NAV is not based on, nor intended to comply with, fair value standards under U.S. GAAP, and such NAV may not be indicative of the price that we would receive for our assets at current market conditions. As a result, the calculation of our NAV may not reflect the precise amount that might be paid for your interests in a market transaction, and any potential disparity in our NAV may be in favor of either holders who redeem their interests, or holders who repurchase such interests, or existing holders. In instances where we determine that an appraisal of a property is necessary, including, but not limited to, instances where third party market values for comparable properties are either nonexistent or extremely inconsistent, we will engage an appraiser that has expertise in appraising residential real estate assets, to act as our independent valuation expert. The independent valuation expert is not responsible for, nor for preparing, our NAV per interest.

As there is no market value for the interests of any series as they are not expected to be listed or traded on any stock exchange (though periodic trading may become available pursuant to our arrangement with North Capital Private Securities ("NCPS"), which is intended to facilitate secondary transactions in interests on an alternative trading system owned and operated by NCPS, as described in the section "Description of Business—Liquidity Platform" in the Offering Circular), our goal in setting NAV on a quarterly basis is to provide a reasonable estimate of the value of our interests on a quarterly basis. However, each series property consists of residential real estate and, as with any residential real estate valuation protocol, the conclusions reached by the Manager's asset management team or internal accountants, as the case may be, are based on a number of judgments, assumptions and opinions about future events that may or may not prove to be correct. The use of different judgments, assumptions or opinions would likely result in different estimates of the value of our investments. In addition, for any given period, our published NAV may not fully reflect certain material events, to the extent that the financial impact of such events on our portfolio is not immediately quantifiable.