In our experience, infill development—especially single-family detached and attached homes—has proven to be the fastest and most profitable strategy in markets like Columbus, Ohio.

I’m not super experience but I do have a couple rentals.

Personally I am thinking 1c.

The issues that most run into though is the property doesn't cash flow enough to support a higher LTV or most lender require a minimum FICO to qualify for the higher LTVs... some lenders have other experience requirements and reserve requirements as well... all depends. 

Like Michael mentioned if you are just reporting on schedule E/C on your personal return- a balance sheet isn't required; so full double entry software isn't required (but still helps). 

My experience has been less than stellar and my real estate agent is also not a big fan.

Reapplied 60% + profits + personal cash = cabin 2.6.

This is nowhere near what my experience is in, but I am familiar with the area and figured I would give you my .02. 

.- You both report your share on your personal tax returns and pay taxes based on your own tax rates.3.

I have no experience personally investing with them.