In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

But I highly recommend reading "Who Not How".

I highly recommend them! 

You state, "your lender" - I admire the loyalty but also would recommend you get a minimum of 3 quotes (at least two from mortgage brokers).

If you don’t know how to estimate repairs, I would recommend using a tool like Blue Hammer.

I understand that starting out, depending on how fast you want to build your portfolio, you could spend a lot of time at it.For those with established investment portfolios, how much time is required to maintain it?

This is prime real estate, and is just about the last piece of land in this area.I have begun to develop a commercial property that I own with contractor garages, which is the extent of my experience in this space.I'm trying to get a sense of how to structure something like this, with using LP's, and also partnering with a builder, and carving something out in that regard.Does anyone have recommendations on who is currently working in this space and could provide some insight?

Highly recommend you DM @Samuel Eddinger and buy him lunch to pick his brain!

I would not recommend RESimpli to anyone else.

If you're open to $120-180k, I would recommend looking into Columbus Ohio as it does have much better growth and appreciation potential than Cleveland and Dayton.