Diversified Residential Portfolio III DST D/A $209.33 mm in investment fund / equity, sold $204.81 mm, 372 investors

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities

OMB APPROVAL

OMB Number:	3235-0076
Estimated average burden
hours per response:	4.00

1. Issuer's Identity

CIK (Filer ID Number)

Previous Names

X None

Entity Type

0001936794

	Corporation
	Limited Partnership
	Limited Liability Company
	General Partnership
	Business Trust
X	Other (Specify)

Delaware Statutory Trust

Name of Issuer

Diversified Residential Portfolio III DST

Jurisdiction of Incorporation/Organization

DELAWARE

Year of Incorporation/Organization

	Over Five Years Ago
X	Within Last Five Years (Specify Year)	2022
	Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
Diversified Residential Portfolio III DST
Street Address 1		Street Address 2
C/O INLAND PRIVATE CAPITAL CORPORATION		2901 BUTTERFIELD ROAD
City	State/Province/Country	ZIP/PostalCode	Phone Number of Issuer
OAK BROOK	ILLINOIS	60523	(630) 218-8000

3. Related Persons

Last Name	First Name	Middle Name
Inland Private Capital Corporation	N/A
Street Address 1	Street Address 2
2901 Butterfield Road
City	State/Province/Country	ZIP/PostalCode
Oak Brook	ILLINOIS	60523

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

Sponsor of the Issuer

Last Name	First Name	Middle Name
Diversified Residential Portfolio III Exchange, L.L.C.	N/A
Street Address 1	Street Address 2
c/o Inland Private Capital Corporation	2901 Butterfield Road
City	State/Province/Country	ZIP/PostalCode
Oak Brook	ILLINOIS	60523

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

Signatory Trustee of the Issuer

Last Name	First Name	Middle Name
Lampi	Keith	D.
Street Address 1	Street Address 2
c/o Inland Private Capital Corporation	2901 Butterfield Road
City	State/Province/Country	ZIP/PostalCode
Oak Brook	ILLINOIS	60523

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

President of the Sponsor of the Issuer

4. Industry Group

Agriculture Banking & Financial Services Commercial Banking Insurance Investing Investment Banking Pooled Investment Fund Is the issuer registered as an investment company under the Investment Company Act of 1940? Yes No Other Banking & Financial Services Business Services Energy Coal Mining Electric Utilities Energy Conservation Environmental Services Oil & Gas Other Energy

Health Care Biotechnology Health Insurance Hospitals & Physicians Pharmaceuticals Other Health Care Manufacturing Real Estate Commercial Construction REITS & Finance Residential X Other Real Estate

Retailing Restaurants Technology Computers Telecommunications Other Technology Travel Airlines & Airports Lodging & Conventions Tourism & Travel Services Other Travel Other

5. Issuer Size

Revenue Range		OR	Aggregate Net Asset Value Range
	No Revenues			No Aggregate Net Asset Value
	$1 - $1,000,000			$1 - $5,000,000
	$1,000,001 - $5,000,000			$5,000,001 - $25,000,000
	$5,000,001 - $25,000,000			$25,000,001 - $50,000,000
	$25,000,001 - $100,000,000			$50,000,001 - $100,000,000
	Over $100,000,000			Over $100,000,000
X	Decline to Disclose			Decline to Disclose
	Not Applicable			Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

	Rule 504(b)(1) (not (i), (ii) or (iii))
	Rule 504 (b)(1)(i)
	Rule 504 (b)(1)(ii)
	Rule 504 (b)(1)(iii)
X	Rule 506(b)
	Rule 506(c)
	Securities Act Section 4(a)(5)

X Investment Company Act Section 3(c)

Section 3(c)(1) Section 3(c)(9)  

Section 3(c)(2) Section 3(c)(10)

Section 3(c)(3) Section 3(c)(11)

Section 3(c)(4) Section 3(c)(12)

X Section 3(c)(5) Section 3(c)(13)

Section 3(c)(6) Section 3(c)(14)

Section 3(c)(7)

7. Type of Filing

	New Notice	Date of First Sale	2022-07-06	First Sale Yet to Occur
X	Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year? Yes X No

9. Type(s) of Securities Offered (select all that apply)

X	Equity	X	Pooled Investment Fund Interests
	Debt		Tenant-in-Common Securities
	Option, Warrant or Other Right to Acquire Another Security		Mineral Property Securities
	Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security		Other (describe)

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? Yes X No

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor $25,000 USD

12. Sales Compensation

Recipient	Recipient CRD Number None
Sagepoint Financial, Inc.	133763
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
20 E. Thomas Road	Suite 2000
City	State/Province/Country	ZIP/Postal Code
Phoenix	ARIZONA	85012
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA CALIFORNIA FLORIDA HAWAII NEW MEXICO OREGON TEXAS

Recipient	Recipient CRD Number None
Whitehall-Parker Securities, Inc.	10608
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
117 Paul Drive	Suite B
City	State/Province/Country	ZIP/Postal Code
San Rafael	CALIFORNIA	94903
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA OREGON

Recipient	Recipient CRD Number None
Woodbury Financial Services, Inc.	421
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
7755 3rd Street North
City	State/Province/Country	ZIP/Postal Code
Oakdale	MINNESOTA	55128
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA DELAWARE GEORGIA MISSOURI NEBRASKA NEVADA TEXAS WASHINGTON

Recipient	Recipient CRD Number None
Hilltop Securities Inc.	6220
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
717 N. Harwood Street	Suite 3400
City	State/Province/Country	ZIP/Postal Code
Dallas	TEXAS	75201
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NORTH CAROLINA

Recipient	Recipient CRD Number None
Concorde Investment Services, LLC	151604
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
19500 Victor Parkway	Suite 550
City	State/Province/Country	ZIP/Postal Code
Livonia	MICHIGAN	48152
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA FLORIDA INDIANA MICHIGAN NEW YORK OHIO

Recipient	Recipient CRD Number None
Lincoln Financial Securities Corporation	3870
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1301 South Harrison Street
City	State/Province/Country	ZIP/Postal Code
Fort Wayne	INDIANA	46802
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA NORTH CAROLINA PENNSYLVANIA TEXAS

Recipient	Recipient CRD Number None
DAI Securities, LLC	36673
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2200 Century Parkway NE	Suite 435
City	State/Province/Country	ZIP/Postal Code
Atlanta	GEORGIA	30345
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA COLORADO ILLINOIS MARYLAND TEXAS

Recipient	Recipient CRD Number None
Coastal Equities, Inc.	23769
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1201 N. Orange Street	Suite 729
City	State/Province/Country	ZIP/Postal Code
Wilmington	DELAWARE	19801
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NEW JERSEY

Recipient	Recipient CRD Number None
Stifel Nicolaus & Co., Inc.	793
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
501 North Broadway
City	State/Province/Country	ZIP/Postal Code
St. Louis	MISSOURI	63102
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA DISTRICT OF COLUMBIA FLORIDA GEORGIA IOWA KANSAS MINNESOTA NEVADA NORTH CAROLINA OHIO OKLAHOMA PENNSYLVANIA SOUTH DAKOTA TENNESSEE TEXAS WISCONSIN WYOMING

Recipient	Recipient CRD Number None
American Investors Co Lsy Dba	38
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
12667 Alcosta Blvd.	Suite 160
City	State/Province/Country	ZIP/Postal Code
San Ramon	CALIFORNIA	94583
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA OREGON

Recipient	Recipient CRD Number None
Securities America Inc.	10205
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
12325 Port Grace Blvd.
City	State/Province/Country	ZIP/Postal Code
La Vista	NEBRASKA	68128
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA FLORIDA NEBRASKA OKLAHOMA OREGON TEXAS VIRGINIA

Recipient	Recipient CRD Number None
Great Point Capital LLC	114203
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
200 West Jackson Blvd.	Suite 1000
City	State/Province/Country	ZIP/Postal Code
Chicago	ILLINOIS	60606
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA FLORIDA NEW YORK

Recipient	Recipient CRD Number None
Avantax Investment Services Inc	13686
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
3200 Olympus Blvd.	Suite 100
City	State/Province/Country	ZIP/Postal Code
Dallas	TEXAS	75019
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARKANSAS CALIFORNIA FLORIDA GEORGIA INDIANA NEVADA NEW JERSEY NEW YORK OREGON PENNSYLVANIA TEXAS

Recipient	Recipient CRD Number None
BD4RIA INC	290240
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
3520 West Vickery Blvd.
City	State/Province/Country	ZIP/Postal Code
Fort Worth	TEXAS	76107
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
COLORADO

Recipient	Recipient CRD Number None
Cetera Advisor Networks, LLC	13572
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2301 Rosecrans Ave.	#5100
City	State/Province/Country	ZIP/Postal Code
El Segundo	CALIFORNIA	90245
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA COLORADO FLORIDA GEORGIA MARYLAND NEW JERSEY PENNSYLVANIA SOUTH DAKOTA TEXAS WASHINGTON

Recipient	Recipient CRD Number None
Cetera Advisors, LLC	10299
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
5299 DTC Blvd.	#800
City	State/Province/Country	ZIP/Postal Code
Greenwood Village	COLORADO	80111
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA MARYLAND NEW JERSEY

Recipient	Recipient CRD Number None
First Allied Securities Inc.	32444
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
655 West Broadway	12th Floor
City	State/Province/Country	ZIP/Postal Code
San Diego	CALIFORNIA	92101
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA

Recipient	Recipient CRD Number None
Crown Capital Securities L.P.	6312
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
725 Town & Country Road	Suite 530
City	State/Province/Country	ZIP/Postal Code
Orange	CALIFORNIA	92868
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA TENNESSEE

Recipient	Recipient CRD Number None
Commonwealth Financial Network	8032
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
29 Sawyer Road
City	State/Province/Country	ZIP/Postal Code
Waltham	MASSACHUSETTS	02453
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA GEORGIA MAINE NEW HAMPSHIRE NEW YORK OREGON SOUTH DAKOTA

Recipient	Recipient CRD Number None
Cetera Financial Specialists LLC	10358
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1450 American Lane	6th Floor, Suite #650
City	State/Province/Country	ZIP/Postal Code
Schaumburg	ILLINOIS	60173
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ILLINOIS TEXAS

Recipient	Recipient CRD Number None
DFPG Investments, Inc.	155576
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
9017 S Riverside Drive	Suite 210
City	State/Province/Country	ZIP/Postal Code
Sandy	UTAH	84070
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA GEORGIA KENTUCKY

Recipient	Recipient CRD Number None
Harbour Investments, Inc.	19258
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
575 D'Onofrio Drive	Suite 300
City	State/Province/Country	ZIP/Postal Code
Madison	WISCONSIN	53719
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA

Recipient	Recipient CRD Number None
Arkadios Capital	282710
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
309 East Paces Ferry Road	Suite 1000
City	State/Province/Country	ZIP/Postal Code
Atlanta	GEORGIA	30305
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA FLORIDA NEW JERSEY TEXAS VIRGINIA

Recipient	Recipient CRD Number None
Lincoln Financial Advisors Corporation	3978
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1301 South Harrison Street
City	State/Province/Country	ZIP/Postal Code
Fort Wayne	INDIANA	46802
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA CALIFORNIA FLORIDA ILLINOIS NEW JERSEY NEW YORK PENNSYLVANIA TEXAS

Recipient	Recipient CRD Number None
Independent Financial Group, LLC	7717
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
12671 High Bluff Drive	Suite 200
City	State/Province/Country	ZIP/Postal Code
San Diego	CALIFORNIA	92130
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA UTAH WISCONSIN

Recipient	Recipient CRD Number None
American Portfolios Financial Services, Inc.	18487
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
4250 Veterans Memorial Highway	4th Floor East
City	State/Province/Country	ZIP/Postal Code
Holbrook	NEW YORK	11741
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
MINNESOTA NEW JERSEY NEW YORK

Recipient	Recipient CRD Number None
Stonecrest Capital Markets, Inc.	39616
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
300 W. 6th Street	Suite 1520
City	State/Province/Country	ZIP/Postal Code
Austin	TEXAS	78701
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NEW YORK

Recipient	Recipient CRD Number None
LifeMark Securities Corp.	16204
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
400 West Metro Park
City	State/Province/Country	ZIP/Postal Code
Rochester	NEW YORK	14623
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA MASSACHUSETTS

Recipient	Recipient CRD Number None
Triad Advisors LLC	25803
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
5155 Peachtree Parkway	Suite 3220
City	State/Province/Country	ZIP/Postal Code
Norcross	GEORGIA	30092
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
MINNESOTA NORTH CAROLINA SOUTH CAROLINA SOUTH DAKOTA

Recipient	Recipient CRD Number None
Thornhill Securities, Inc.	22333
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
400 W. 15th Street	Suite 700
City	State/Province/Country	ZIP/Postal Code
Austin	TEXAS	78701
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA

Recipient	Recipient CRD Number None
Cabot Lodge Securities LLC	159712
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
200 Vesey Street	24th Floor
City	State/Province/Country	ZIP/Postal Code
New York	NEW YORK	10281
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA

Recipient	Recipient CRD Number None
Cambridge Investment Research, Inc.	39543
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1776 Pleasant Plain Road
City	State/Province/Country	ZIP/Postal Code
Fairfield	IOWA	52556
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA COLORADO ILLINOIS INDIANA IOWA MICHIGAN NEW YORK OHIO TENNESSEE TEXAS

Recipient	Recipient CRD Number None
Royal Alliance Associates, Inc.	23131
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
10 Exchange Place	Suite 1410
City	State/Province/Country	ZIP/Postal Code
Jersey City	NEW JERSEY	07302
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA HAWAII MASSACHUSETTS MINNESOTA NEW YORK

Recipient	Recipient CRD Number None
Realized Financial, Inc.	22333
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
400 W. 15th Sreet	Suite 700
City	State/Province/Country	ZIP/Postal Code
Austin	TEXAS	78701
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA INDIANA NEW YORK

Recipient	Recipient CRD Number None
International Assets Advisory, LLC	10645
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
390 North Orange Avenue	Suite 750
City	State/Province/Country	ZIP/Postal Code
Orlando	FLORIDA	32801
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
OKLAHOMA

Recipient	Recipient CRD Number None
Calton & Associates, Inc.	20999
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2701 N. Rocky Point Drive	Suite 1000
City	State/Province/Country	ZIP/Postal Code
Tampa	FLORIDA	33607
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
TEXAS

Recipient	Recipient CRD Number None
LPL Financial LLC	6413
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1055 LPL Way
City	State/Province/Country	ZIP/Postal Code
Fort Mill	SOUTH CAROLINA	29715
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA COLORADO FLORIDA GEORGIA INDIANA IOWA MARYLAND MINNESOTA NEVADA NEW YORK OHIO OREGON RHODE ISLAND WASHINGTON WISCONSIN

Recipient	Recipient CRD Number None
FSC Securities Corporation	7461
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2300 Windy Ridge Parkway	Suite 750N
City	State/Province/Country	ZIP/Postal Code
Atlanta	GEORGIA	30339
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NORTH CAROLINA

Recipient	Recipient CRD Number None
Wintrust Investments LLC	875
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
231 S. LaSalle Street	13th Floor
City	State/Province/Country	ZIP/Postal Code
Chicago	ILLINOIS	60604
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
WISCONSIN

Recipient	Recipient CRD Number None
Centaurus Financial, Inc.	30833
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2300 E. Katella Avenue	Suite #200
City	State/Province/Country	ZIP/Postal Code
Anaheim	CALIFORNIA	92806
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA COLORADO IDAHO ILLINOIS

Recipient	Recipient CRD Number None
American Trust Investment Services, Inc.	3001
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1244 119th Street
City	State/Province/Country	ZIP/Postal Code
Whiting	INDIANA	46394
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NEVADA

Recipient	Recipient CRD Number None
Ameritas Investment Corp.	282710
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
309 East Paces Ferry Road	Suite 1000
City	State/Province/Country	ZIP/Postal Code
Atlanta	GEORGIA	30305
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA TEXAS

Recipient	Recipient CRD Number None
Herold & Lantern Investments, Inc.	30996
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
35 Pinelawn Road	Suite 101E
City	State/Province/Country	ZIP/Postal Code
Melville	NEW YORK	11747
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA

Recipient	Recipient CRD Number None
Purshe Kaplan Sterling Investments	35747
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
80 State Street
City	State/Province/Country	ZIP/Postal Code
Albany	NEW YORK	12207
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA NEW JERSEY NEW YORK OKLAHOMA

Recipient	Recipient CRD Number None
Peak Brokerage Services, LLC	157045
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1070 East Indiantown Road	Suite 208-210
City	State/Province/Country	ZIP/Postal Code
Jupiter	FLORIDA	33477
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NEW YORK

Recipient	Recipient CRD Number None
J.W. Cole Financial, Inc.	124583
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
4301 Anchor Plaza Parkway	Suite #450
City	State/Province/Country	ZIP/Postal Code
Tampa	FLORIDA	33634
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
UTAH

Recipient	Recipient CRD Number None
APW Capital, Inc.	43814
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
100 Enterprise Drive	Suite 504
City	State/Province/Country	ZIP/Postal Code
Rockaway	NEW JERSEY	07866
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA

Recipient	Recipient CRD Number None
Cetera Investment Services LLC	15340
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
400 First Street South	Suite 300
City	State/Province/Country	ZIP/Postal Code
St. Cloud	MINNESOTA	56302
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
TENNESSEE

Recipient	Recipient CRD Number None
Emerson Equity LLC	130032
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
155 Bovet Road	Suite 725
City	State/Province/Country	ZIP/Postal Code
San Mateo	CALIFORNIA	94402
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
COLORADO

Recipient	Recipient CRD Number None
Aegis Capital Corporation	15007
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1345 Avenue of the Americas	27th Floor
City	State/Province/Country	ZIP/Postal Code
New York	NEW YORK	10105
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA

Recipient	Recipient CRD Number None
XML Securities	145589
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
7600 Leesburg Pike	Suite 120 East
City	State/Province/Country	ZIP/Postal Code
Falls Church	VIRGINIA	22043
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
VIRGINIA

Recipient	Recipient CRD Number None
McDermott Investment Services, LLC	154926
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
44 East Broad Street	2nd Floor
City	State/Province/Country	ZIP/Postal Code
Bethlehem	PENNSYLVANIA	18018
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA

Recipient	Recipient CRD Number None
Muriel Siebert & Co., Inc.	5376
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
15 Exchange Place	Suite 800
City	State/Province/Country	ZIP/Postal Code
Jersey City	NEW JERSEY	07302
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ILLINOIS

Recipient	Recipient CRD Number None
Osaic Wealth, Inc.	23131
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
10 Exchange Place	Suite 1410
City	State/Province/Country	ZIP/Postal Code
Jersey City	NEW JERSEY	07302
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA HAWAII OHIO

Recipient	Recipient CRD Number None
Ameritas Investment Company, LLC	14869
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
5900 "O" Street
City	State/Province/Country	ZIP/Postal Code
Lincoln	NEBRASKA	68510
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA

13. Offering and Sales Amounts

Total Offering Amount	$209,327,056	USD	or Indefinite
Total Amount Sold	$204,807,964	USD
Total Remaining to be Sold	$4,519,092	USD	or Indefinite

Clarification of Response (if Necessary):

Regarding Item 11, the Issuer may accept smaller investments in the Sponsor's sole discretion.

14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.

Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:

372

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions	$18,630,107	USD	X Estimate
Finders' Fees	$0	USD	X Estimate

Clarification of Response (if Necessary):

Sales Commissions include estimates of the maximum amount of Selling Commissions, Dealer Fees and Placement Agent Fees that may be paid.

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$8,716,297 USD X Estimate

Clarification of Response (if Necessary):

Item 16 is an estimate of acquisition fees, reimbursements for certain acquisition and financing costs, and offering and organizational expenses that may accrue to one or more Related Persons.

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:

• Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*

• Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of:  (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.

• Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer	Signature	Name of Signer	Title	Date
Diversified Residential Portfolio III DST	/s/ Keith D. Lampi	Keith D. Lampi	President/CEO of the Sponsor of the Issuer	2023-11-22

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.