Arrived intends for each individual single family residential property and the Single Family Residential Fund to elect and qualify to be taxed as a separate real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ending after the completion of the initial offering of interests of each such series. The

NOTE: Vacation rentals are considered ‘active’ income and, therefore, not REIT eligible.

Please see your tax advisor for specific investment advice.