I believe the best bet to get a good deal is to target pre-foreclosures with good chunk of equity.

Now the management and integrity of handling the money that's again another issues .. so if you have questionable collateral and poor management this end result is not a shocker at least to me.. 

To confirm my recommendation ask him for references at his current developments, I bet he won’t give you names and will make up an excuse!

Even with the reduced rates, my cash flow is poor for my equity position (i would still be cash flow negative at today’s rates).  

It's very important to have a good PM and not go cheap or there's a high chance your rental will get poorly managed and you'll lose money in the long run. 

You bet it is lower risk than being on the equity side.

Most people are poor and can’t both develop the land and convert to buying the land from the government.  

The owner needs to know you are solid, a good bet.

These 10 cabins I am buying have been very poorly operated, so I am buying them almost strictly at property value.

   #4 Is great and I bet this one can lead to many successful closed deals.