You may also want to take a look at Split Rock, which is a more east.

The builder would then build the townhomes and split the profits with the investors as the homes were sold off.

I know it sounds like I'm splitting hairs but some banks write HELOCs in their residential department....which won't write Investment Properties.

As I suspected, you're splitting up the payment, which you shouldn't be.

Here’s what I do with my rentals:I either have tenants split the utility bills or include a clause in the lease that states if the gas or water bill exceeds a specific amount ($X), the tenant will be responsible for the overage, provided there are no leaks or other infrastructure issues contributing to the high usage.To determine this $X amount:Water: I take the highest water bill I’ve had over the past year (excluding periods where leaks occurred) and add about $15 to account for small fluctuations or potential increases.Gas: For gas, I calculate the median bill during the winter (when usage is highest) and the median bill in the summer (when usage is typically lowest).

I couldn't afford the entire payment at the time and I had to use their creative financing to split it out over six payments per month.

I paid for the basic package which was $17500 but I was able to split that cost with a buddy.

Take a run down property in a nice area and then you can REALLY improve value.I think an investor who wanted to invest in SFR might want to conduct an experiment.They could do a split comparison between 2 investments.Buy a property in the hood for 40,000 which TK companies say is (newly renovated)AND  Find a below market property needing work in an A to B area.

If I understand correctly you'd be purchasing the land, and improving it and splitting it into the appropriate "buildable lots". 

They have every incentive to make sure construction is up to standard since they will receive 5-6% (to be split with buyer's agent depending on state) of the sale price in commission.