He will be totally hands off and only role is to provide money.My goal is cash flow and another investment(same as my father).I have limited free cash on a tight budget but have access to a heloc loan for expenses if needed.

That is more than 50% of the ENTIRE annual budget of CA for 2024. 

Others are responsible with their budget and can stretch a dollar.If they are excellent renters, I would offer them the option to renew and let them make the choice.

Eliminate debt, establish a budget, and save.

Start with your budget then think about location.This is a really vague question. 

I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units. 

Eliminate debt, establish a budget, and save.

if all properties you see are below market rents, than I don't think they are really below market, typically.Beyond the cost of vacancy, renovation budgets, etc that come into play.  

This section should outline the process for documenting and approving changes, as well as their impact on the budget and timeline.

Drive around and figure out a few areas you would like to live in with your budget.