Leaving money on the table 

Anything where a company makes it 'easy' for you, they are going to take some $$ off the table right away.

The table below lists inflation-adjusted purchasing power for the first ten years.After ten years, $1,000 will only be able to buy 61% (100% - 39%) of what it can buy today.

Once all of the above is known, and you have a preliminary site plan showing how many lots (and the size of lots) are available, you can start putting together numbers on the cost of the whole project.

Usually, your PM might do some light rehab/turnaround to get ready repairs, but in general you would hire a contractor yourself for a medium or bigger sized job. 

I wound up finding 3 from a person who had ordered the wrong size and couldn't get a refund that just happened to be the very specific small size I needed with an arch.

The neighborhood is desirable, so renting it wouldn't be difficult but it would be niche because of its size (4/3, office, dual living rooms, game room).

You can buy a stock, in lets say apple or Microsoft, but that doesn't give you a seat at the table of CEO, CFO, COO ect... but In syndications, you can talk with the managing partner and get all the information, strategy, and experience ect.... 

Be conscious of people's time and be respectful of the work your loan officer/broker is putting in to get your deal to the closing table.

One issue is the challenge of qualifying, as conventional loans will have DTI requirements, income requirements, loan size limits, and loan amount limits that investors looking to scale a portfolio run into as soon as the financial freedom snowball starts rolling.