Interesting point about title issues...Yes - I'm learning that buying/selling wholesale properties is a 'dark world', so to speak.I appreciate the input.

I need help/answersI don't have much money, but I may (for investment(s) ) be able to get private money and borrow from people I know...I want to put together the property(s)/lot(s) under some sort of minimal liability LLC or Trust, because even though I don't have much to lose...

I'm an attorney and handle the legal side with minimal tax advice--though being an investor, I'm certainly aware of tax implications of any structure I work with.

@Kole KingslienGeneral rule:He should get reasonable w2 income as well as profit by way of dividends to minimize SE taxes.

Unit requires minimal rehab work (cleaning, new paint).

., you'll have to deal with expensive repairs while hoping your home's appreciation will come out positive.If the market corrects and you have to hold on to the property longer, you could be losing money from having to handle repairs while you wait for the home price to go up.Forced appreciation through rehab is your way to minimize these unexpected costs, not speculative appreciation.

That rate would be fine as the cost would be minimal compared to the larger amount I'm trying to collect.

Cost would be minimal to level the house on the foundation compared to leveling the foundation. 

As a example if you purchased a new build property and sold after 5 years your expenses would be minimal but over the next 40 years of ownership that number would most likely be in the average range of say 40% - 60%.  

I don't know what your past construction experience is (or if you're handy at all) but if it's minimal, then I would stick to rehabs first (doing cosmetic renos, then more complicated as you aquire and rehab) then go into new construction.