The math still doesn't work out to favor new construction, so there is obviously other factors I am not considering.

I've been told by my bookkeeper that I should 1099 him as a subcontractor to avoid extra taxes and also because partnerships, "tend to never work out."

In that case, I'll have to make sure that I have a lot of cash flow to save up in one year so it seems like I'd have to find a really really good deal because of the PMI.Maybe I'm just really confused as to how this is supposed to work out.

As an example, if a couple brokers say that it should be a gas station, ask them to speak to a few gas station developers who may be interested and work out a partnership with them or pay them as consulting fee for helping you set it up.

Or if it doesn't work out I will keep it active to use MLS for future investing!

@Seth Eaton my idea is you can rent/lease/purchase land and put the containers on it and if the area doesn't work out, you can move them to a different location with very little to lose.

I can typically get those smaller items fixed for the price of the service call or even lower and its not worth the hassle.If you are hoping to get the HVAC replaced or other appliances by them, it might work out unless it takes few more years and by then, you already spend that money on the home warranty and service call fees and they might not even cover the whole thing once it comes to replacing.They are here to make money and they will go out of their way to replace parts before replacing the entire item.

If the numbers work out then go for it! 

Always very confident it will work out.

A property that rents for $2.5k and has monthly property taxes of $1.5k isn't going to work out too well."