Paying 2 and 20 is fine for a large hedge fund investor with massive upside, not regular minions that can't really afford savage tenants. in my expensive equity market, I make my living on equity capture at the buy transacting solo, off--market. 

I am not sure why rebuilding as a single family if destroyed makes a difference since my mortgage broker confirmed I would qualify for the property without factoring in the rental income (i.e. if this was a single family at the same purchase price I would still be able to afford the property).

I had convinced myself last week to put it on MLS and sell but someone close to me said there's nothing else to buy right now and I'm better off just playing the long game until I can afford to build on the lot. 

And if needed, you do not have the ability to buy the others out or to afford to go to court.Recommend staying far away from this. 

We'd each contribute equal capital into the partnership, but our competitive advantage is that he'll live near our properties, is an extremely skilled contractor, and can thus manage and repair/improve our properties more affordably.

A new bill introduced by DC At-Large Councilmember Robert White would allow D.C. to pay landlords to turn existing units into dedicatedaffordable housing: https://ggwash.org/view/81507/....

They want to do their first deal out of state where things are more affordable.

Income generating parking lots and structures located in Central Business Districts and entertainment areas have the ability to provide stable to provide stable returns with low capital expenditures. 

Can you afford to rent it out at a loss?

Property is 2 blocks from Atlantic Ocean in the heart of beaches entertainment district.