But having been a GC & MH contractor, dealer, developer and RE broker for the past 3 decades I can tell you first hand that I avoid customers like you like the plague.

@Anthony Kondor check out this thread:https://www.biggerpockets.com/forums/432/topics/64...If the person you're referring to isn't a registered broker-dealer, legally, you will HAVE to make him a part of the GP if he's to raise money for the deal.

I am a car dealer who never invested in RE before but saw banks selling houses for far less then the cost to build them. 

If you bought the property to fix and flip, you are considered a dealer.

In fact your entity will be treated with dealer status as well.

Let the buyer take the final step so this clearly keeps you out of dealer status 

There are many new restaurants with the growth along US Hwy 259 in auto dealers, hotels and new apartment compleses.  

I suggest you read through those articles before you build the sites or spend money on them.You are likely going to need a broker-dealer on your team if you choose to go that route.

Now, I know Dave says he doesn't, but being a MB or institutional dealer makes a big difference, it's different in some areas of a regulated entity and some guy off the street, you're not going to carry as much water and a bank may just move forward with a private note holder.

(You need to look like a buy-and-hold investor, not a dealer/flipper.)