However, I established many meaningful relationships for those I hired then and later in the future.

Then I had to open an LLC for some other investments.

Live in the multi-family for a year, then move back into your own home and rent out the unit.If if not ideal, it's worth the hassle. 

If you find a Duplex or greater for under $250K and with rents common to the market at or above $1200 a door then you have some cash flow. 

Then throw up some security alarm stickers.

Then things went south...I decided to gut the rest of the basement since it got water damaged from the foundation issue.

I would recommend fixing it and then determining whether or not to sell based on cash flow and profit after the sale.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

If he feels he still has rights to the rental and the deposit, then that also means he has responsibilities for the damage and is subject to charges.

Unlevered, completely different story.Good question, Yes.We will need $330K to close on the land, but if we simultaneously close on the construction loan, which we plan to do, then the true equity requirement will be $175Kish.