More rentals, a larger multi-unit, another type of commercial, if you run out of time you could always get into fractional NNN if you’re looking for a totally hands off investment. 

I have one right now telling me they want to move out and I'm totally okay with them leaving before their lease expires because they suck as tenants and I'm ready to be done with them.   

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I totally agree with what you said about the timing.

In order for the subject property to qualify, 75% of the total market rent must exceed the total monthly payment.

Please correct me if I'm totally off--but--didn't we work together 4 years ago at S&J?

Depending on what your experience is like, you might be able to get a hard money loan as low as 8% interest that finances 90% of the total costs (both the land and the build).But definitely try the banks first because the terms are always better there.

Equity investors put up 80-90% of the total capital and get 50% of the total profit.

The deadline is very strict, and the custodian must receive the money by the deadline.If it's anything other than A or B - there could be some important complications.Once you acquire the property, ideally you should limit your personal use to no more than the greater of: 14 days, or10% of the total days you rent it to others at a fair rental price.If you exceed this number, your tax deductions will be limited.And when I say "personal use" it does not mean just you.

In order for the subject property to qualify, 75% of the total market rent must exceed the total monthly payment.