I definitely like your ideas of focusing on location and trying to get my downpayment closer to 10% rather than 3.5%. 

However, since you already own a duplex and SF one idea is to invest in what you already own.

Just throwing ideas out there.

Also, the idea separating them is so you don't accidentally spend them and then no way to pay it back when the time comes.Some states if you don't refund the security deposit within X amount of days, the penality is that you will have to pay back the security deposit x2. 

It's going to be more about your confidence in the market that you can afford than anything else, so the primary thing is to look up a few areas you might be able to afford and then look for someone local that can hop on a call to give you an idea about what investing there is like. 

How legit is their practice if you have an idea about it?

I’m back now and looking for some guidance on an idea that caught my attention.An old high school friend of mine has been buying older houses, either renovating or tearing them down and rebuilding, depending on their condition.

I'll echo what Zeke mentioned about interviewing multiple realtors / PM's / Contractors to make sure you can get a good idea of what the area is like, in addition to working with someone you're comfortable with. 

I have a lot of ideas on how to buy real estate with no money (Novation, Subject To, owner financed), to partner with someone who has money, and/or to buy for yourself with money. 

Does anyone know, or have a good idea, about the difference in returns on entitling & developing the land for each scenario, with final objective to sell to a builder to build and sell the structures him/herself.