I don't know what your past construction experience is (or if you're handy at all) but if it's minimal, then I would stick to rehabs first (doing cosmetic renos, then more complicated as you aquire and rehab) then go into new construction. 

The more middle men you deal with, the more complicated it would be. 

It’s is not that complicated, and  it’s just an LLC structured differently with less paperwork. 

However before I get started I'd like to have a straight answer if at all possible lol Because lately I've received "Ahhhh well...yeah and no..." lol maybe it's much more of a complicated question than I think it actually is.

The house is under a reverse-mortgage so it does complicate the situation a bit.

Or am I over-complicating everything?

The more complicated your scenario the harder it will be to find a fit. 

I found the process to be easier this time than the first time, but there were still complications along the way - definitely NOT perfect.  

However, now that the taxes will be a little more complicated with the added real estate investments I have a couple questions regarding upcoming tax season:1.

they were in business 20 some years took in 100 of millions in due diligence fee's at 5 to 10k a piece.. there targets were newbie developers who had bigger complicated projects that no one would fund when you have little to no experience.