I'm basically at water level on this, and I don't know that other investors could make this cashflow any more than I could without me selling at a huge loss. 

Do you look for an acre with city water and electricity and build on that or do you put in your own?  

I was thinking I'd buy an acre of land that has city electricy and water available, and pay that off so that it can be used for collateral one house at a time.  

We also do a walk through, set expectations for maintenance, filters, lawn, garbage and go over the function of GFCI's, shut off locations (water, power, gas).

Does federal lands have water and sewer running thru it?

If you have rain water run off to their yard they will get you finned.

The place could also survive on LT rent or seasonal rental, which is popular in this quaint village on the water for Summer and shoulder seasons.It's one of those two-story old 1890 brick buildings.

In fact two week ago I tried reasoning with a brainwashed Pace Morby follower in these forums who stated he would  happily complete a seller finance deal for more than FMV value, effectively putting him under water if he could acquire the property without using any of his money and the property cash flowed.

I know one option is to wade into the waters of private funding.

The HUD inspection the next day finds a water stain on the ceiling and fails the property.