What do you think about this opportunity? Is it investable? What is a good lease back rate?

"Austin, TX. Check out this investment property with a twist. It's a friend's listing: A 1482' house on a .84 acre lot that...

This large lot is indeed Travis county with great schools, most were built in the 1980's in need of some updating.

Crowd funding of RE for such a large amount is a real stretch. 

You're not going to cashflow on a water front property and you may have issues with seasonality and/or demand in a very tourist-driven area.If you have an idea of where you'd like to invest and what the numbers might look like, a good way to test the waters is to put an ad on craigslist showing a potential property with the rent you'd expect to get and see what kind of interest it gets.For my rentals in Louisville, over the past 6 years I've had anywhere from 2-3 emails a week to 30+ emails per day depending on the location, rental rate and time of year.

Adding things like granite or hardwood won't add much value in these neighborhoods.

I have two large dogs.  

JV could also work, but only if I knew my partner VERY well and they had a very large track record of success and/or were independently referred to me by somebody I know and trust.

My primary goal from real estate is to generate passive income and amass a large enough portfolio to quit the 9 to 5 grind and earn my financial freedom.

Adding @Jay Hinrichs as he will be able to provide more insight as he has been doing this for decades...

You can also post a ghost ad on CL.