There are so many ins and outs when buying distressed homes it's definitely something you'll want to be able to lay your hands on, at the beginning at least.Buying turnkeys is a great option as well, there are some larger companies who offer lower interest rate options while operating in more affordable states that are landlord friendly.

Still waiting on engineering services quotes.

It mitigates the risk because you can go slow, you are living in the property, and you get the tailwind of 2+ years of market appreciation while waiting to sell tax free on the gains.

Should I wait until I can put 20% down on a property to decrease the monthly mortgage payment?

I have been a high volume realtor for 8 years, worked with a lot of investors and have been waiting to get into investing.

Unless you buy it all cash you will need to wait at least 6 months title seasoning to refinance on the ARV.

It would take several years to achieve that rate and you would have lost a ton of cashflow waiting for it to arrive.

I can now wait for a home(s) that meet my criteria to come onto the market or I was thinking of buying land and building new.Does anyone have experience with Eagle Rock Resort? 

One partner has gone out on his and lays no claim to that property at his request. 

You could setup something where the fees are deferred until you secure the construction loan and then pay them 1.5-2x their standard fee if they waited the 6-18 months to get paid.