You could visit the idea of student housing in university area of Charlotte with a SFH and rent by the room. 

If the house were minimally livable based on other prices of houses in the neighborhood, excluding the extra land what do you think the house is worth if you had to sell it?

Sometimes buyers don't realize all the houses a buyer agent had to preview (in previous deals, and just agent walkthroughs) to get the neighborhood vibe and trend...numbers and data don't tell the whole truth.I hope that after a year or two of the new rules enough buyers (who got burned) will see that having someone experienced represent and protect their interests is a darned great idea. 

What I mean by that is for instance in a place like Newport Beach California where houses cost millions to buy there may be apartments available for 2000 a month, which is way less than the per square foot of a purchase.

Hello All,I just secured a 0.4-acre lot with a burnt house on it in the Bakersfield, CA area.

Would it be consider as an appreciation market yet or just more like cash flow type of deal (since housing price is still fairly affordable)?

The bank notes with friends and family range from 8-10% annual payout.The community has 5 tenants, 4 TOH (tenant owned homes) paying $325 per month, and a house $500 per month.

You can absolutely make rhe time limit what ever buyer and seller are comfortable with.If your trying to convince a seller to give you seller financing while you flip the house a shorter time may be more convincing than a longer one.You could also offer some of the profits from the flip to help seal the deal.

With that in mind, here would be my priority order based on what you have written:1) Have all the houses inspected so you know about major deferred maintenance. 2) Pay for an appraisal on all homes so you know if you are getting a good deal. 

Please come back and post a follow up, even fi you wind up losing money on the transaction, because it is a good opportunity for new people to learn how difficult flipping a house and turning a profit can be.