New construction has a very different risk profile from buying existing properties and fixing them up. 

Yeah nonrecourse is one of those things that exists in theory but is very, very hard to find in the residential space.

The business plan to pay untenable returns is not untenable, it’s non-existent.

I guess that is partly why bitcoin exist, to eliminate those cross border fees. 

For illustration purposes, the investor with engineering and/or construction background may excel building in a market where there is ease in doing business and can build efficiently whereas the doctor may have greater success in the established market where significant barriers already exist but can afford the entry price and can ride the waive of continued appreciation and offset their high salary by depreciating the expensive building they acquired.  

This is my 1st post and I am so incredibly thankful that a forum like this exists and for any information to help guide me through this tough decision is so immensely appreciated! 

You want to know the total demand and the existing competition.  

Nine  states are COMMUNITY PROPERTY STATES, where all property accumulated during the marriage, OR the INCREASE in value of existing separate property (property accumulated prior to the marriage), is considered community property which can only be divided 50/50, UNLESS the division is made to offset some other imbalance .  

I always hear that due to liability and taxes etc, investment properties should go into an LLC.What is the best way to turn my existing home into a rental?

Demand for rentals is near non-existent in this specific town during the winter, and demand is extremely hot in the summer months.