Not sure if it was mentioned here already, but another creative alternative is to purchase a SFH that has a casita. 

What the IRS is concerned with is when you are doing a 1031 and want to purchase a property from a related party. 

A quick formula you can use is your estimated purchase price times .0134. 

This is a quick calculation that we can do to see how much house you can purchase at 100% financing if desired.

Also make sure to build on a property located in a desirable location with larger pop density and if holding for rentals, charge median rent for that market as lenders want to see a bigger pool of buyers/renters available to occupy/sell. 

Larger brokerages sometimes are in need of administrative work, which could earn you a steady income while also getting exposure to the field. 

Hello Solomon,A few tips I have for you would be to first; Analyze Deals Properly – Use the 1% rule (monthly rent ≥ 1% of purchase price) and calculate cap rate, cash flow, and ROI before buying. 

For larger CapEx jobs, we're fine with a client getting their own quotes, in fact, sometimes this is preferable.  

Hey Jeff without knowing any details everything is what you are able negotiate. but you have to take in account the years interest rate and purchase price and what kind of cash flow.I will say get a mentor if you’re inexperienced these kind of deals can go left if you really have little knowledge when it comes to structure .

This person did not raise any money, they invested around $600,000 into the offering and because they were one of the larger investors were considered a Co-GP because it was a new sponsor and they needed this persons $.