Refer to the frequently asked questions on the third slide. https://www.hud.gov/sites/dfiles/SFH/documents/MO_203k_Progr...

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

Real estate investing is a team sport and at different points in the game different players will play more important roles.

Like @Sarah Miller and @Marcy Albrecht said, you can buy places within the city limits but it's still about location. with that said, i'm always looking out for my end game. one of the issues with buying in certain parts of canton is that when you decide you're done, you may not be able to unload your properties.

We also have infrastructure in place at a build site for a 3rd unit on property.

I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units. 

Even in disclosure states, sales data is not all reported to the sites so you need the MLS to be the most accurate.

It is a lofty goal with no easy path to accomplishment, but what you describe seems unlikely to accomplish the goal.Note most people on this site are RE investors.  

Follow Createdinero and intelligentcredit for free game and breakdowns on this.

There is a web site that lists all the section 8 housing, so people might be also be looking there.