I have only used a couple of examples, ther may be many other ways to structure this with different tax consequences. 

It sounds like the ONLY benefit in this deal is the 0% carry-back and you are trading that for a reduced rental rate renting the property back to the family member.

I have been the Jack of all trades in the real estate industry.

It's a jack of all trades here with little to no trade offs/cons when comparing apples to apples to other large STR markets.The key to success here though comes in the knowledge and execution.

For example, a job with a builder will expose you to lots of things: land acquisition, new construction, renovation, trade experience and contracts, financing, permitting, etc.

I'm thinking 7 years + to trade equity, 12-15 years for material wealth generation. 

I would highly recommend bringing in an advisor or broker with specific experience and knowledge in this asset class.I have seen many of these parks trade hands on a handshake and a dream, however, you could be taking a huge gamble if you don't get microscopic on the front end.

i have some trades i've worked with a few times and if i ask them for a rough estimate they'll provide it. 

This has created, since about 2016, an asset class of very limited MF properties in the Southeast that trade at unreal cap rates.

Consequently, I am looking into townhomes as an alternative.