It really depends on what your investment style is.For instance I *loath* debt.

A personal home is a life style choice not a investment.Due to the fact that a personal home is more expensive to own and maintain renting while saving to invest is a smarter option for those wishing to concentrate on investing.

I closed 6 townhouse style, non-warrantable condos in Akron that were contiguous, but deeded separately late last year. 

Home style doesn't usually matter unless it's an emotional investor.

Now if you have a dollar cost averaging style, flipping/ turn around model, trend following, momentum, or any of a countless number of other philosophies you may not have the same feelings about cash and that's fine. 

I've not, but folks around here do it all the time, especially in older neighborhood that tend to have small bungalow style houses. 

I own all three styles.  

I like your policy of giving 10% back for the environmental & social causes.

Anyway its somewhat complicated - so buyer beware    - but overall a sewer system should be great for the area as in-n-out, trader joes, etc.. will be able to do traditional builds rather then complicated septic system/environmental reviews etc.   

It's a personal decision based on a lot of factors. if you purchase one rent-ready or cash flowing, you do so based strictly on your whatever your personal investing goal and style is.