However, while I am not familiar with that market in particular, I would imagine that competition on the larger properties would be just as stiff as in the duplex and quad market.

Yet again, non of this is magic or beyond the realm of logical thought, so it's not exactly that Cardone has the magic dust :)Logic is key...

If TSPs are anything like 401ks, it will depend on the rules of your particular plan. 

I am wondering if others are investing in the smaller communities around us here and how are you dealing with the lack of data.In particular, I struggle putting value on the land. 

Most of the scenarios proposed to us by potential clients for such joint ventures would likely create a benefit between the parties and not pass scrutiny in an audit.There are many ways to safely and productively grow your IRA investing in non-traditional assets such as real estate in a standalone fashion,  There is no need to take unnecessary and foolish risks with your retirement savings.

I actually think certain types can be decent investments IF you do the homework and read the docs and know what you're buying into.I personally avoid high rises (too much cap ex and high maintenance costs mean poor return), poorly maintained buildings with lots of deferred maintenance, avoid non-warrantable buildings or complexes (hard to finance), I prefer townhouses or 4plex style condos with only one common wall and nobody above or below, that limits neighbor and tenant drama. 

We've been working on bylaws, registered as a non-profit, set up a bank account, drafted application forms, discussed membership fees, and a whole bunch of other stuff.

Low income rentals - tenants don't ask - they just paint and you find out once you had to evict them for non-payment. 

I have noticed over the last 2 years or so that there's more applications from people that work from home or have other non-traditional jobs, and I live in a pretty traditional area so it's not like a coast vs. flyover thing.

Obviously every house won't be a winner either so when we don't make much money, I won't still be on the hook for paying say 10% back.This investor wants to sign a 2 year deal with me, and non-compete so I can't use other investors money or go do this on my own.