By utilizing cutting edge technology, geographic hub locations & the dedicated team of Allison-Shelton management professionals, our single family home management system can scale up from 100 to 1000 homes.”Vicki Allison , CPA, CPM® | Principal Allison-Shelton Real Estate Services, AMO®

AMERICAN RESIDENTIAL INCOME FUND, LP

OFFERING TYPE

Limited Partnership Units (U.S.) Trust Units (Canada)

TOTAl OFFERING SIZE

$15,000,000

OFFERED AT

$50,000 per unit

PREFERRED RETuRNS

7%DISTRIBuTION OF

PROFITS TO INVESTORS*99.9%

SuITABlE INVESTORS

Accredited Investors Only

www.AmericanResidentialHomes.com

EXECUTIVE SUMMARYThe American Residential Income Fund, LP is strategically positioned to take advantage of the recent historic financial crisis in the United States and severe downturn in the residential housing market that has forced banks to foreclose on tens of thousands of homes. The U.S. economy, employment, and manufacturing are now recovering and the GDP growth is projected to be 3.2% in 2012.*The Fund will purchase homes for “all cash” at daily trustee sales at the Phoenix court house steps, at purchase prices substantially below their replacement costs, some as low as 50% of such cost. Our Management team analyzes over 1,000 foreclosed homes daily, selecting only a few that meet our stringent financial acquisition criteria.

This Fund will raise up to $15,000,000 in equity to purchase homes using the proprietary and exclusive Trustee Foreclosure Acquisition Program (TFAP).

Our experienced acquisition team utilizes a methodology developed over the last 13 years, with daily home video inspections, and full time professional bidders at the court house steps.

All homes will be renovated, leased, and managed by our professional property management company using their exclusive and scalable Home Procurement System.

The Fund’s strategy will be to invest through 2 distinct divisions: • Rental Division: Lease homes to generate a cap rate of up to 8% and hold for future appreciation.

• Resale Division: Purchase homes to be resold to real estate investors through our proven international network of real estate brokers.

The current business model is a natural extension of the General Partner’s 25 year history of purchasing residential real estate, renovating, leasing and selling over 10,000 homes to home owners and international investors. The General Partner has strong relationships with Canadian real estate investors, who are constantly seeking opportunities in the U.S. This unique business model, combined with this historic downturn in the U.S. housing market, and a strong Canadian dollar, creates the opportunity for investors to earn significant preferred returns.

*Elliott D. Pollack & Company This brochure is for information purposes only: not an offer to sell securities. For Broker Dealer use or for potential investors if used in conjunction with the PPM.

GOALS OF THE FUND1. Provide affordable housing for American families

2. Purchase quality homes in great neighborhoods

3. Purchase homes at Trustee auctions producing prices well below:

Replacement Cost

Appraisal Value

MLS Prices

Bank Owned Sales (REO)

HOW THE FUND GENERATES PROFITRental Division: The goal is for the homes to generate an 8% net income from rental operations.

Resale Division: American Residential Realty, LP: The goal is for the sales of the homes in the short term to generate a 15% net margin. We anticipate deploying the capital at least 2 times a year through the sales of the homes.

Quarterly distributions of profit.

*SEE POTENTIAl EXPANSION STRATEGIES

“

GENERAL PARTNERS

Emerging Markets Exclusive Properties, LLC www.AmericanResidentialHomes.com

Phil Carroll • Acquired and sold over 77 multi-family projects during the

past 25 years • Sold over 10,000 properties to investors and home owners

Bob Chilton • Responsible for sales, marketing, construction and successful

completion of 9 condominium conversion projects • Totaling over 2,300 units and $500 million of real estate • Former president of Phoenix home building company

ACqUISITION TEAM

Rick Rickert• Designer of the Proprietary Trustee Foreclosure Acquisition Program• “State of the art” system that has purchased over 1,000 homes at

the court house steps• 13 years in the industry

PROPERTY MANAGEMENT TEAM

Allison Shelton Real Estate Services

Vicki Allison• 11,000 units under management • 15 years working with the General Partner • Home Procurement System - scalable management program

to lease and manage homes• Accredited Management Organization (AMO) – Designated by the Institute of Real Estate Management – Less than 10% of thousands of property management firms

in the United States have this designation

AMERICAN RESIDENTIAL INCOME FUND, LP

AMERICAN RESIDENTIAL INCOME FUND, LP

AMERICAN RESIDENTIAL HOLDING, LP

AMERICAN RESIDENTIAL

INCOME TRUST

LP Units

CANADIAN INVESTORSTrust Units

U.S. INVESTORSClass A LP Units

GENERAL PARTNER

Benefits to Canadian Investors • Simple Structure - Purchase Trust Units • No U.S. Filing • No U.S. Estate Tax Issues • No withholding at Canadian Trust Level

Benefits to U.S. Investors • Simple Structure – Purchase Class A LP Units • REOC allows 100% Qualified Funds • No Tax Withholding

INTERNATIONAL INVESTOR PROGRAM

Competitive Advantages 1. General Partner’s vast experience - 25 years in multi-family

residential real estate with over $1.5 billion in transactions

2. “Local Knowledge” - Management team from 10 to 25 years experience in Phoenix marketplace

3. Banks are willing to dispose of single family homes at deep discounts compared to other real estate assets, i.e. apartments

4. Timing – As a result of the current depressed U.S. real estate market, and especially in the Phoenix area, the General Partner believes this is a favorable time to launch the Fund and acquire real estate assets in large quantities at excellent prices

5. No debt in the Fund

PROFESSIONAL ADVISORSLegal (U.S.) - Securities & Tax AttorneysQuarles & Brady, LLPChristian J. Hoffmann, III, Securities Partner Jeffrey Fugal, Tax Partner Terrence Stein, Tax Partner

Legal (Canada)Felesky Flynn, LP - Tax AttorneysSiobhan Goguen Andrew Bateman

Borden Ladner Gervais LLP - Securities & Trust AttorneysBruce Lawrence Scott Wilson

Independent 3rd-Party Market StudyLand Advisors OrganizationMike Schwab - Principal

Hocking & Reid, LLC – Tax AuditBruce Hocking

Potential Expansion Strategies for the InvestorThe General Partner has two strategies to expand the Fund and its portfolio, which it plans to do by May 30, 2013. The strategies are as follows:

PRIVATE CAPITAL EXPANSIONThe General Partner may determine to expand the business by raising additional capital from institutions or other investors and remain a private entity. In such case, the General Partner would present a capital augmentation plan to the Limited Partners, which would require a vote of the holders of more than 66 2/3% of Class A Units in favor to be approved. Under the plan the Limited Partners would receive distributions equal to 100% of their original capital contributions plus a preferred return of 7% and thereafter distributions would be made 75% to the Limited Partners and 25% to the General Partner. See “Summary of Offering – Expansion Strategies – Private Capital Raise” in the PPM.

INITIAL PUBLIC OFFERINGThe General Partner and the Trustees could pursue an initial public offering by presenting a plan to the holders of the Trust Units/Class A Units for approval. Such holders would receive a preliminary prospectus, business plan and other relevant information and would have to approve the plan by more than 66 2/3% majority in order for it to be adopted. The goal of an IPO would be to raise additional capital in order to expand the business of the Fund and increase the value for the Limited Partners by having the Fund become part of a public mutual fund trust in Canada. See “Summary of Offering – Expansion Strategies – Initial Public Offering” in the PPM.

6,682

$88

$60.00

$80.00

$100.00

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$140.00

$160.00

$180.00

$200.00

0

1,000

2,000

3,000

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Total Sales Price Per Sq Ft

MLS Resale Figures

MLS Sales and Price Per Square FootDec 2005 – Dec 2010

Average Price Per Square Foot

Source: RL Brown, Housing Market Forecast 2009-2012, Cromford Report

The average price per square foot has stabilized around $88 and total sales are increasing. In March of 2011, MlS showed the 5th highest sales volume total ever recorded at 9,901, surpassed only by sales in the peak years of 2004 and 2005 when the average cost per square foot was over $180. (source- Cromford Report)

WHY PHOENIX?

Elliott D. Pollack & Company

Greater Phoenix EmploymentPercent Change Year Ago

1991 – 2011Source: Arizona Department of Commerce, Research Administration

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

12%

Jan-91

Jul-91

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Jul-10

Greater Phoenix•Data through January 2011. Recession Periods

5,000 new jobs in February in Arizona: Healthcare, Solar & Technology 17,200 new jobs formed in Arizona from March 2011 to April 2011 (source: Arizona Department of Commerce)

Source: U.S. Census Bureau; Eller College of Management; ADOC, December 2010

RANK STATE 2000 POPULATION 2030POPULATION

1 California 33,871,648 46,444,8612 Texas 20,851,820 33,317,744 3 Florida 15,982,378 28,685,769 4 New York 18,976,457 19,477,429 5 Illinois 12,419,293 13,432,892 6 Pennsylvania 12,281,054 12,768,184 7 North Carolina 8,049,313 12,227,739 8 Georgia 8,186,453 12,017,838 9 Ohio 11,353,140 11,550,528

10 Arizona 5,130,632 10,347,54328 Nevada 1,998,257 4,282,102

TOP 10 MOST POPULATED STATES IN 2030

FASTEST GROWING STATES

STATE % GROWTH

Nevada 114%Arizona 109%Florida 80%Texas 60%Utah 56%

United States 29%

Projected Population Growth 2000 - 2030

2010 ARIZONA POPULATION:6,392,017

2010 METRO PHOENIX POPULATION:

4,364,094

PROJECTED POPULATION

GROWTH 2000-2030

Source: u.S. Census Bureau

2000 POPulATION 2030 POPulATION

Arizona 5,130,632 10,347,543

DISCLOSUREThis document is intended as a summary of certain information contained in the AMERICAN RESIDENTIAL INCOME FUND, LP Confidential Private Placement Memorandum together with all attachments and/or supplements thereto from time to time (the “PPM”). Any potential investor in the Units should review the PPM in its entirety prior to making any investment decision with respect to the Fund. This document is subject in its entirety to the information set forth in the PPM (including but not limited to the “Risk Factors” set forth therein).

RISk FACTORSInvesting in the Units involves risks. Please see “Risk Factors” beginning on page 35 of the PPM for a full discussion of the following and other risks:

Economic and General Risks of Property Ownership. The success of an investment in the Properties will be subject to risks incident to the ownership, rental, sale and management of single family homes in the Phoenix, Arizona metropolitan area and will depend upon factors which may be beyond the control of the General Partner and cannot be clearly predicted at this time.

Competition for Rents, Sale of Rental Program and Other Economic Factors. The success of the operation of the Rental Program will depend in part upon our ability to obtain the rents and occupancy that we anticipate. If we are unable to maintain a sufficient occupancy to pay expenses, and pay all taxes relating to the Rental Program, then we will operate at a loss.

Real Estate and Credit Market Risk. The real estate market in the United States is in the midst of severe downturn. In particular, the Phoenix real estate market has been one of the hardest hit and it is unclear when this trend will slow or change. If the market continues to decrease or does not increase sufficiently over the life of the investment in the purchased Properties to yield a profit when such Properties are sold, Limited Partners may lose money.

Lack of Opportunity to Evaluate All Properties. The proceeds of this offering will be invested in Properties that have not yet been selected by the General Partner. As a result, the uncertainty and risk of an investment in us is increased to the extent investors are unable to evaluate the economic merit of all the single family homes which may be acquired.

This is not an offer or solicitation of an offer to purchase any securities. This material must be read in conjunction with the Confidential Private Placement Memorandum in order to understand fully all the implications and risks of the securities to which it relates and must not be relied upon to make an investment. This material must be accompanied by the Confidential Private Placement Memorandum. Past Performance is not indicative of future results.

Securities offered thru ARI Financial Services, Inc., member FINRA and SIPC. ARI Financial Services, Inc. and Axxcess Capital LLC are not affiliated companies.

Sales & Marketing:

Tim Snodgrass, President3 San Joaquin Plaza, Suite 240 Newport Beach, CA 92660

T: 949.544.3535 F: 949.335.6638

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PURCHASE PRICE = $147,100 ($42.82 / ft2) LAST SALE = $375,000

SURPRISE, ARIZONA

TYPICAL HOMES PURCHASED AT AUCTION

The following homes were purchased by the General Partner and/or its affiliate and may become assets of the Partnership.

General Partners:

Phil Carroll & Bob Chilton

8090 N. 85th Way, Suite 101, Scottsdale, AZ 85258

T: 480.350.7050 F: 480.292.8821

PURCHASE PRICE = $170,100 ($68.07 / ft2) LAST SALE = $279,900

MESA, ARIZONA

PURCHASE PRICE = $74,100 ($32.69 / ft2) LAST SALE = $290,000

GOODYEAR, ARIZONA

PURCHASE PRICE = $83,100 ($46.63 / ft2) LAST SALE = $198,000

GOODYEAR, ARIZONA

Currently leased at $1,700/month

Member FINRA/SIPC