Phil is looking for people who he can mentor and split profits with whereas Kris is just investing other peoples money in a proven system. 

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

Why would you spend thousands of dollars and lose months and months of profit to do that?

Josh is very well organized and presents a lot of information well. 

How do you go about organizing all the information you’ve learned throughout your REI journey?

You'll be able to write off the expenses and interest, but there is a tax on the profit from the real estate.  

As it turns out, the profits are nearly identical.Off market is just a marketing term, most of the wholesale properties are very much ON Market, just not on the MLS perhaps, unless they were bought off MLS. 

Challenge is his profit vs your profit.Best of luck!

Understanding cap rates, net profit and economy (supply/demand housing, interest rates lowering increases demand, the real estate cycle, investing for cash flow vs appreciation) will all set him up for success.

I think as long your HOA and Lease Rent is not eating all your expected profit, then it may not be a bad deal, especially if you can turn it into a STR, you can definitely maximize the returns.