we have talked with a broker but haven’t lined anything up yet.

I notice that you mention two different states when you are talking about house hacking.

-Perhaps the cash flow "lining your pockets" continues for a few years.

we are setting up two OZ funds and would love to talk about what you've found. one is for land development and is more active the other is passive real estate ownership of extended stay. all are ground up. 

This can also bolster your case if the tenants continue to act in bad faith.

FHA 3.5%.You should talk with a lender like @Jose Valdovinos! 

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow. 

This isn't to be contrarian, it's just not to deal with saturation.If you know these markets, continue to invest.

Daniel,Memphis is a great market for investors and we have continually seen growth in both rental rates and property values.