Also, it provides me the opportunity to work with buyers and sellers in a fiduciary capacity if I want to (which sounds like you are interested in doing) and get compensated for listing referrals I make to my agent partners (on houses I cannot wholesale) and other buyer referrals I come across.

There are many factors that will determine your ROI, and you will have a more management intensive investment.So if you have the capacity to create leverage and the tolerance for risk along with a skill for evaluating property you can generally create a much better return owning property.

Obviously, I do not have any capital to work with at the moment, nor any capacity for risk, but I would like to get started early and learn what I can so that when I do have those things I will be able to put the theory into practice and I will not be entering the market blind.

That means you're going to have to have the capacity to get the work in progress before you get the money from the lender.

I think you misunderstood, I agree that you need to act in the capacity of a principal.

Your credit, capacity to pay, the collateral for the loan are the main issues lender's look at.

MOST rouge nations don’t present as much of a problem because most of them lack the capacity to launch an attack on our homeland absent #4.Overall I would argue that terrorism is most threatening because of our open border policy AND the magnitude of loss that would arise IF one of the nations snuck a dirty bomb in.

The water capacity could be a minor issue if your homes will be on wells.

Is the land worth more in a different capacity or are the townhouses in bad shape?

The septic has had more issues then the well but well capacity is a big issue.