I’m hoping to establish a reliable stream of unearned income through real estate investments, but I’m new to the field and looking for guidance.I have around $35,000 saved (excluding stock investments) and would love to connect with someone who can help me navigate this world.

Now it’s probably the Midwest,But my the time you get to the Midwest and establish a footprint and “street credibility” with the brokers and sellers another market may be strong.If you are going to invest out of area, you will need to spend “face to face” “boots on the ground time” there.

If you are looking for loans on real estate or a business lenders don’t necessarily care about the credit history of the LLC - they care about the performance of the asset and your creditworthiness since you will most likely have to sign personally.I have established multiple LLCs just days before closing on large loans for different assets, those particular entities barely existed and the banks did not care.If you are talking about pulling a business line of credit (like a HELOC, but against your business equity) then the banks like to see some history of revenue.

Also father/son dynamics at an age where the son is trying to establish his independence is trying on both of us.I did not push son in direction of RE, he considered various options and chose RE. 

Usually, I would say this is a lot to bite off, but you are young and already have a single family so you aren't a total noob. 

I would assume that you'd just simply sell each individual lot to the developer at a set lot price such that your cost to purchase the raw land and improve it to buildable lots was worth the proposed profit per lot.  

Offer the design team a piece of the equity OR pay a premium as incentive to keep to an established timeline (that is within their control). 

Having said that, before you dismiss a sponsor for violating this guideline, take some steps to ensure you are communicating with the right person, and that communication is actually established.

Eliminate debt, establish a budget, and save.

If you can establish a solid network (even virtually at first), and maybe leverage your savings to buy a property with rehab in mind, the reward could be the path you're looking for to make those five-year goals a reality.Of course, the risks are there, but if you're comfortable and see the upside, it could be worth leaning into.If you need more insight into BRRRR execution or anything specific about market selection and building a remote team, feel free to ask.Hope that helps!