To play devil's advocate (and keep in mind I have no skin in this since I'm in a different market):-You want to tailor to investors, then be prepared to sell at an investor price. 

That backs out to 10-15% cash on cash return in most cases.

Also I would buy tax deed land for say 2k sell it a few months later for 10k on terms that was my cash flow.

My goal is to convert at least 1/4 of the units in a multifamily I buy into medium term furnished rentals (gradually) to bring in more cash flow.

I'd think that would be theft from the tenants, but hey, let's see how this plays out. 

This way, all investors are on an even playing field as to risk, and there is no dilution because everyone is contributing pro-rata.3.  

Just make sure to fully understand the loan terms, especially the interest rate and repayment schedule, so there are no surprises.2.Condition of the Property: If the property isn’t in really rough shape and you were able to get insurance on it using a 4-point inspection and wind mitigation, you might even qualify for traditional funding options like FHA, Conventinal, VA, a cash-out refinance or a home equity line of credit (HELOC).

Under Alabama law, that is a VERY dangerous play and you could end by losing money.You also cannot sit back and let him build the house and say "Thanks."

Even if you do find that deal, getting it to cash flow after repairs and cash out refinance is extremely difficult for Single family homes.

You're trading high growth/stability for lack of cash flow.2.