I personally totally agree with the point that if you learn study and practice you will succeed.

Study up on 'seller carry'.

You might also consider taking a course and getting a textbook as if you were studying for a real estate license.

You need to study your market and determine what's expected in comparable rentals.

But, the GC says that he will provide the lien waiver from his company including the language that all sub contractors are paid without mentioning the name of the sub contractors.                           

My wife has started studies for her real estate license (shes excited, and I cant really think of a downside)3.

For your case study, A four-bedroom turnkey vacation rental property for $230,000, with expected revenues of $65,000 and After debt service, the expected positive cashflow is $28,500.

Then I have a separate Addendum to the lease that lists in plain language the "rules." 

It's a trapped equity, not cash flow.The case study you presented is an awful one because of the horrible return.Here is the property I bought in april:  purchase 400k, dp175k (low risk for now), total rent 36k/year.My positive cash flow after mortgage and tax is 10.3% after mortage and property tax.  

Would you recommend I write language into the land deal that allows me to terminate if I find a deed restriction/ HOA covenant that messes with future development?