@Michael Plante it's good to hear your friend is successful - I feel like it's all about the numbers - I think I have identified a piece of property about 1.25 acres for under $300k.

A distinct LLC for management establishes a record-keeping division between property ownership and management activities, which may be useful for bookkeeping and upcoming audits, even though income still flows through to you.

We are leasing a large industrial warehouse for 2 years to utilize as a build space to build the walls and parts of the roof in the warehouse and then shipping the pieces to be assembled onsite.

If you can contribute time and labor to deals, you may find someone willing to handle the financing piece. 

Having to buy a piece of property 1st wouldn't have stopped a kid like that.

Cash flow is one piece of the puzzle.

Seller suggests 100k is needed and he could be right but the lot rent alone could be 400 a mth so the units in hand could be sold for a few thousand a piece.

I speak from experience.....some might have $100,000 worth of junk you need to haul off....on a  $10,000 piece of property you bought for $1000.   

Based on the limited information from the initial post (the key piece missing being the CAUSE of the moisture) it's impossible to say if renters insurance would cover this situation.  

That land doesn't convert to cash for a downpayment, unless its encumbered or sold and no institution is going to lend on a $20M piece of property.