I am excited to be able to combine the build/ rent opportunities.

LLC or LLP or combination could be a much better fit.  

Or maybe you want to do a combination of the above?

I'd probably try to suggest a combination of 5 acres with 20 units per acre and then suggest townhouses on the other 3 acres.

**VersaStorage Complex**: Combining "versatile" and "storage," this name suggests flexibility and a broad range of storage solutions, catering to both individual and commercial clients.3.

Thebrother in law combination is on my current investment project.

@Nikesh Patelwelcome. please recognize that it is very, very difficult to achieve cash flow at this time UNLESS you employ a hands-on, time intensive, creative strategy, OR a combination of such strategies. 

Let's look at your situation LOGICALLY:)OPTION #1With your combined $100k for a down payment, you could buy a $1M+ SFR home in California. 

My wife makes less than $3,000 a month but we are able to live off of that and still be saving $1,000 of that a month (so keeping our combined expenses under $2,000 a month).

You'll want to enlist a CPA who specializes in real estate, trusts, & flow-through entities (this is a somewhat rare combination to find in a small/single-member firm, you may want to look at a larger regional firm to assist you if you can't find anyone who suits you at the smaller level).