FHA loans are really only best in lower credit and lower down payment situation. if you have the ability to do 5-10% I would do it. if you don't need money for repairs , you could do on the higher end 10%+ but if you do need money for repairs 5% could be good. some lenders will do recasts on loans and you cannot do recasts with FHA.

They would be putting in some money and their service as sweat equity, and we would be putting up money and my wife’s services. 

Working with someone who has done it before can save you a lot of money in the long runI have some some good deals in that market on new construction.Best of luck.

Double coverage seems like a waste of money to me and a possible finger pointing fiasco if a claim happens.

Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.

is that even legalI would be open to hear about it

I don't know about you but I am constantly on the hunt for consistency, consistency of income, of deals, of productivity, in my relationships...so that's my focus in all things not just real estate.So my vision to your question is a a state of total consistency of income and deals.I'm focused on the basics, which to drive me is even more specifically "making offers."  

If it's a restaurant with a hood even better as second generation restaurants are valuable.  

Examples include Austin, TX or Raleigh, NC.Tertiary Markets: These are even smaller cities or towns, often with specific economic drivers like a university or a major employer.2.

I don't believe raising QOZ money for entitlements that would be resold 6 months later would pick up traction.