And keep asking questions on here.As far as the # of units go, I would try and buy as many units I as could afford.  

It's more important for this project to succeed than I can tell you.I know any investor is going to want to see detailed business plans and drawings for the project's design, but I certainly can't afford to hire an architect to draw up a layout.In short, I am in the same position as a man who needs badly to relieve himself and has no pot to catch the stream.

Because there isn't an almost endless supply of affordable/low income housing.

I can't afford it.

It's starting to look like we are priced out in our market, as anything that we can afford always seem to come with major flaws.  

I would start looking in the area using trulia, zillow or even talking to a realtor to get an idea of what is on the market, and what you are able to afford.

When you can afford to not have a paycheck for 3-12 months and it not bring your entire house of cards downI've been full-time for 2yrs but I live in a duplex, have no debt except student loans, and spent years honing my craft at living below the poverty so can easily survive leaner times if they occur.

Go with the "base hit" first, swing for the fences later on when you can afford it if you strike out instead.If you are looking for more passive type investments, notes are an option.  

I am can't afford FHA loan since PMI will be will around $350 and it will destroy my cash flow.

Every paycheck, put an amount you can afford into a separate bank account.