I'm a registered representative with a securities 7 license, so everything i do is done as a security.

@Grant Rothenburger I buy in Cleveland and I am a huge NBA nerd, specifically fan of Lebron.  

Also make sure the security deposit is addressed!

I would be happy to start with 5 to 7, maybe then I can use them as leverage to secure a loan or interests from some investors or partners for future endeavors.

@Ericka Grant thank you, exactly what I was looking for...just need to massage that into the FL way of doing things.

So the choice inside of retirement accounts is "do I invest in securities and get say 8-12 percent with a roller-coaster at times, or real estate where I can get 12-15% with very little volatility"?

If Bill turns out to be a crazy person and causes major damage that is beyond the security deposit, Jane can go after you for it. 

Keep in mind that the money that you contribute to your Roth IRA does not have to be invested in publicly traded securities;  it can buy real estate and still keep it's tax benefits.

And at the time time I would find someone with some cash (either personal savings or retirement funds) sitting in money market account losing to inflation and offer them 6-8% return to lend to me secured by real estate.

My questions are:1- Should I secure written approval for the split & construction prior to presenting to a builder?