A "bad" to one person can be an "ok" to another - so it's subjective and if you're basing your whole investment thesis off of one person's opinion you're not going to have a great time. 

For SFH appreciation is not really within your control - it’s market based.

The amount funded(usually based on loan to value or loan to cost-usually up to 75 post construction value or cost) covers for the entire project.

Besides Cobbs Creek - what areas would you suggest based on the information I gave above?

Based on everything I have ever read, replacing a garage door is the #1 ROI you can make; something like 168% ROI.

I haven't yet, but my next deal, I think I will get my investors a wood etching of their home (based on the photography) and maybe "My First Flip" or maybe the sale $ or something investor-y.

However, based on the suggested  10-40% tax savings it could be a no-brainer.

He was decidedly more excited about that idea.In terms of money, my initial thoughts were that the equity in the property would change over time as individuals contributed more throughout months/years until an agreed amount of parity was reached based on whatever the property called for: i.e. everyone owning a 2bed/2bath had contributed the same amount of capital, that sort of thing.

A 100% equity property is nothing more than a trophy, with the cost to buy it based on how much cash you put into it. 

However, as a high earner, you might be subject to the Social Security tax wage base limit, which is $147,000 (as of 2022).