The other potential issue is that there are far more bad wholesalers out there peddling garbage at an inflated price than there are good ones assigning good deals, and you as a newbie may not be in the best position to distinguish between the two and even if you were the good ones typically prefer to work with only a few experienced flippers who buy a lot of volume from them in a given year.If you don't already own your primary, you could start there with perhaps 5% down conventional loan, and in time either do work yourself to add sweat equity and/or utilize your friend's expertise to help remodel and add value.In the meantime, you could also get your RE license and work that way.

Avid learner (podcasts (REIN/BiggerPockets), books, networking events, etc).Looking to connect, network, add value in the BiggerPockets Community, and provide sweat equity wherever I can to work as a group to obtain the same goal!

All the time, energy and sweat you put into the rehabs could be spent on more profitable activities like finding more flips, expanding your W-2 skills or building your liquid capital.

On the SFR front, I am a big fan of the buy, rehab, rent, repeat model and thoroughly enjoy doing the sweat equity myself as a counter to my desk job.

IMHO, the best way for an appreciation play is to buy a distressed SFR at a discount (motivated private seller or bank REO, smallest, ugliest, least expensive home on a nice block with no HOA), then roll your sleeves up and put in some serious sweat equity while you live there, then rent some rooms to offset some of your mortgage.

It is located right off of two major Indianapolis highways so there is even more potential for foot traffic.My vision is to develop a small fast food building, lease it, then sell it as a turnkey property to either the tenant or an out-of-state commercial investor.So my question is; as an inexperienced developer with limited capital and unlimited sweat equity, how would I go about beginning this process?

I am thinking you will want to buy something under market cost so you can work on it and gain some sweat equity in the place. 

It takes more sweat equity but works for lower volume.

The credit belongs to the man who is actually in the arena, whose face is marred with sweat and dust and blood who strives valiantly; who errs and comes short again and again; who knows the great enthusiasm, the great devotions and spends himself in a worthy cause; who, if he wins, knows the triumph of high achievement; and who, if he fails at least fails while daring greatly, so that his place shall never be with those cold and timed souls who know neither victory nor defeat. 

How much sweat equity can you and your partner put in?