Alternatively, you could partner-up with an investor type who has his/her own documents drafted to their specs and feed them deals as a lead generator (aka bird dog). 

I still see merit in my Lease plus ROFR and Lease plus Contract for Option to Purchaseas an alternative to the Lease with option to purchase.And a Lease and Delayed Sale and Purchase agreement with 3% non refundable earnest money I think is much preferable to to a Lease with Option to Purchase.

@Hector Perez I like to mix it up. 1 letter professional and the next handwritten, I would alternate between the 2.

The first is that the FHA alternatives are going to cost less than FHA loans.

You will also want to address in the JV agreement that the land will be used as collateral to secure construction financing to complete the project contemplated by the JV partnership.In addition, you'll want to carefully describe your own contributions to the JV along with each parties responsibilities, and for prudence what each party would gain through the projects success and alternatively lose should the project fail.

I'd recommend checking out the Black Diamond meeting in Waltham (alternates every other month with it's 2nd location in Worcester, net meeting in Waltham is Sep).  

Any alternative strategies to consider here?

On most streets, the on street parking alternates sides each day and the city enforces it.  

Is there any alternative to taking a distribution from an old retirement plan, and doing a rollover to purchase investment property without taking a 20-30% hit from Uncle Sam if you want to have access to the cash flow?

You might try our Waltham meeting - we alternate Worcester and Waltham each month.