Any other pros or cons to this method of investing for at least getting started? 

I wouldn't recommend this as a starting strategy for anybody.Market Auction: There's probably a better term for this but anyone who owns a property can sell it via an auction.

Starting off you will not do a zero sum investment plus get other people to invest.  

I would prefer to start out here in Fayetteville, NC but I'm not opposed to other markets at all.

I used the proceeds to start my business.

As you move into your townhouse in Odenton and eventually aim for multifamily properties, you might want to start refining your metrics (like cash-on-cash return and cap rate) to compare performance across different property types.Looking forward to seeing how your portfolio evolves.

We’ve started talking about the potential for collaboration, particularly to reduce construction costs by building simultaneously.

It's no guarantee but it's a good place to start.

I didn’t expect them to cashflow when I got started.

As with most people starting out - having the 20%-30% equity to put in the deal is the challenge.