When you go through you entitlement process you can then start approaching smaller construction firms or other developers that do residential building but they may only have the capacity to do a couple.just a thought.  

He also lives out-of-state which limits his involvement capacity).Question 1: given my level of involvement vs his it's only fair that compensation or investment % differs-- Would splitting profits and expenses (post purchase) 50/50 but purchase costs (down payment, closing costs, etc.) split 70/30 (me 30%) be a fair?

It's a tough area on a macroeconomic level, but I have seen deals listed on public sites that have the capacity for profit in a fix-n-flip scenario in the area.  

Been there, quit and then returned after a couple years but in a slightly different capacity.

In terms of strategy, I'm focused on flips, note investing, and small rentals in and out of state at this point, based on my capital level, capacity (i.e. time) and experience level.

I have been a landlord in one capacity or another since 1986.

@Allen Fletcher that is a great idea; and keeping that capacity open on our lines would insure his liquidity should he need those funds for something else.Thanks for the tip!

I've been in the automotive repair industry in all capacities from owner to consultant... it's past time to move on.Our plan is to diversify our cash and live modestly from rental property.

Whenever you have a wet period that area will stay soggy because the soil will reach its maximum absorption capacity quickly without the ability to make it to subsurface fissures. 

The administrative work is well beyond the capacity or desire of most.