It is generally necessary to buy properties at a BIG discount if you want adequate cash flow.

@Bobby Trujillo rarely are properties with foundation issues adequately discounted to compensate for the cost of a proper repair.

You can also find yourself one or more private lenders who would be willing to carry a mortgage ... you will pay 6-10% interest which in our current markets will really limit the properties which service that level of debt and still cash flow adequately.

I wanted to hold for at least a year before selling (in case I couldn't find an adequate 1031) to avoid capital gains gouges.

What I've seen from other companies building tiny houses is that they are laid out and built like a tiny house(not like a conventional house), they are far too expensive for the target market, and there isn't adequate financing to make them a viable option for most buyers.

Nothing wrong with owning it in your personal name - just be certain you are adequately insured. 

As you’ve heard before I’m sure, I’d suggest buying for cashflow, underwrite the deal conservatively, have long term debt, adequate reserves and don’t over leverage.

Do I need to refinish whatever that is if the existing floor flatness is adequate?

I will receive cash flow based on my exchange amount (4.2M) + my TOTAL reserve amount even though I have not yet contributed that total reserve amount.The sponsor/manager is confident that the amount in the reserve fund will be adequate (he says more than adequate) and that there will not be a need later for additional funding.

Marketing done consistently, creatively, and with adequate follow-up is EXTREMELY easy to make it pay for itself.