Transitioning to a Second Property with Low Money DownIf a second FHA loan is not an option, here are alternative strategies to minimize your out-of-pocket expenses:Conventional Loan with 5% Down: Once you’ve added equity to your current property, consider refinancing into a conventional loan to free up your FHA eligibility.

As others noted, most municipalities issue future zoning maps which indicate the direction the local planning commission or equivalent wants to take their zoning and if your plans are consistent, that's generally a good indication as well. 

That indicates price is the problem.

I have seen a tax attorney on YouTube specifically saying you can take a full year of depreciation even if you buy in December but all I see in the IRS publications indicates that you have to prorate based upon the time it was available to rent.is there a rule I am missing?  

This is especially important when owning rental properties or managing flips because it minimizes your personal liability.However, many people stop at forming an LLC without considering the potential tax benefits of electing S-Corp status.

FHA does have the benefit of max seller concessions being 6% so if your realtor can negotiate for that it can really minimize your cash outlay. 

I can expand it if i desire, but it minimizes the size of the post.

The investors will be LPs, also want equal equity stakes down the line, even with less or minimal initial investment upfront and wanted to see if anyone has selling / talking points to justify that position. 

Start with a small deposit, to minimize your potential losses.

Since this is a long-term investment, it’s still important to prioritize areas with strong population growth and a healthy job market—both are great indicators of long-term potential.