He gives an example of 123 Main street (total profit/total invested capital)/time in years.

Right now you have $1,000 in cash flow that can be used to fund other projects (seed money), pay you in profit to supplement your lifestyle, or fill in any gaps for underperforming properties.  

The rates will be lower and will allow you to maximize profits.

What was your upstart expenses and do you consider it a profitable endeavor or something that just waste time?

If you lose 20% to the PM, then you still have 30~40% profit. 

If the land is in a suitable location, this could open up opportunities for developing 2 homes or even selling off one of the lots, which could lead to a good profit.

If I profit off of you buying real estate, then yes!  

Sometimes larger portfolios for sale will have owner financing terms a seller is willing to accept (always negotiable). 

Network in person, see if they have a publication where you can post your deals and what you are looking for, and if there is a larger annual conference for investors locally consider getting a vendor table to talk about your business and what you are looking for.

An LLC shields personal assets from business liabilities, while S-Corp taxation allows you to reduce self-employment taxes by taking a reasonable salary and distributing remaining profits as distributions, which aren’t subject to payroll taxes.