Just another suggestion, if  you don't have enough funds focus on finding a great deal and partnering with someone who has the means. 

This document will entail information such as how income/losses will be split, who will manage the partnership etc.The partnership will be required to file a federal form 1065 and possibly an Ohio 1140.The partnership will be required to distribute a K-1 to each partner which details each partner's share of income/losses. 

I like what @Aaron Klatt mentioned, see if you can partner with someone on developing the land.

My partner and I looked at a property on a fairly major street in Woodland Hills, CA over the weekend.  

Either put the partnership together properly or just buy it in your own LLC and have your partners be silent partners.

Work with partners. 

I don't really want to put energy into creating another job, even if it is on my own terms.2) I struggle to see how investing, even as a JV partner, ever gets me to my passive income goals.  

I have a partner in Cleveland, OH and one in Columbus, OH as well. 

I would love to hear how other investors structure the returns for a financial partners on small/medium multi family buildings? 

Always looking for a great deal, partners, lending options, and how I can help you as a realtor.