You're doing your own labor, thus your going off material-only costs.

I specialize in off-market properties and currently have a portfolio of options available in North Carolina.

In many ways it's personal preference and where you can find a good deal...off-market or creative financing is the best in FL right now, otherwise the numbers don't pencil well. 

So far I have not been able to entice any laid off oil field hands to work for $15 per hour.

Is the back of the house even there (I've seen front look decent, back looks like bomb went off?)   

An agent can use an "exclusive listing agreement" with an option to sell it off market as a "pocket listing."

I'd focus on 150,000 sq ft and up deals so you get the densities you need. we just proposed 84 units on a lot that is 4500 square feet in Columbus Ohio with reduction in parking from 111 cars to 0 and we will lease off site parking. shift parking off site to save money on garages or push it into public garages. if the numbers work build structured parking which most the time they do it just depends on the deal size. if you want to sell to institutional investors you need at least 100 units in my opinion but the sweet spot is like 150+. in downtown columbus our market you can get about downtown unlimited height land for 1.5 million an acre.

Their buyers tend to love off market deals

Essentially my idea would be to sell 1/2 my interest, pay off the existing loan, and be "partners" with this person as long as there is a defined exit strategy. 

I would work with an investor-friendly agent who focuses on cold-outreach methods like cold-calling, cold-texting, etc to bring you off-market deals.