Most of them absolutely see the value and have much more productive ways to spend their time (like buying more properties!).

I added value by making strategic renovations that enhanced the property's appeal and functionality.

You could also look at selling the "paper lots" in advance of building out the infrastructure, but that depends on your financial ability to take this from dirt to finished product, and ultimately for holding long-term if that's the goal.

We've found our contractors are more productive and there is much less confusion on renovation costs/budget. 

That mid-range investor if doing a fund in that range is going to be very difficult to find enough product, cover your overhead and pay the investors. 

Your income would qualify you for the Homeready/Homepossible products and you may find that is better pricing than FHA.

It's a product offered by Lead Propeller and am curious if anyone has tried it. 

They do build a solid and quality product.

I'm guessing there are some nicer, high-end artificial products out there ?

That sounds like a lot of new product entering your market that could scoop away your tenant.