However, if I take out a construction loan later down the road, say 5 years, I probably am not going to have more than $10,000 to put on that loan so I’m not sure if this is the best route.

What I have seen successful in this situation:1.

Not an expert on this but it appears YES this would be subject to UBIT and a good amount (70%).

This is the only mark.

As Min Zhang suggested, making sure you have a reliable property management company is key and can ensure you aren't dedicating any extra time to taking care of this asset when you already have a job with demanding hours.

In multi-unit buildings, I just have my maintenance team toss this stuff in the basement in maintenance room where we can deal with it later. 

Any creative ways to buy this deal that’s a win-win for both of us?

Some townhomes are like $250,000 and rent is still $2000+.Where I’m from, a $400,000 house would probably rent for about $2000 so I was pleasantly surprised to see how much more rent you can get per dollar, is this pretty standard or am I missing something about Freeport?

Does anyone have a spreadsheet formula for this?

So depending on your experience, if you are bringing a piece of land and some plans, I the outside investor would want likely between 80-90% of the equity if I am providing all the funds for closing, the experience, and the reserves, just to be honest on something like this.