Even very well experienced investors don't have lines that large.  

Even facebook might have some good local groups for you.

Someone who has $w0k laying around “not doing anything” and could afford to make the $3k/mo payments for a year or more, even if the building was vacant for a while for some reason.

The power of compounding in real estate is real - yet most professionals don't understand how powerful it really can be even though they talk about generating wealth.The true power of a 1031 exchange is the ability for an investor to meet their investment objectives without losing equity to taxation.

Also the plan is to use retirement funds from my 401K even after which, I should have enough left for retirement.

Get rid of those GCs and Subs too....any legit Contractor (are they even licensed?)

Not sure who to follow or even spend any time or money learning from. 

Even if it's a nice home, without being able to produce the income your expecting, it's likely going to be a losing investment. 

I'd never touch that I'd just help along and find a builder who builds for investors and skip the self performance of things you'll get in the way for any experienced builder. just you saying that to me as a builder I wouldn't even call you back 

Supposedly, these mortgages were actually bought by a company called "LSF8 Mortgage Holdings, LLC" but even that is in question at this point.