This is not a "setup an IRA LLC and just go invest" type of project.There are folks who are comfortable with adding funds to a partnership LLC so long as it is done proportionally.  

I love the built environments, so my other idea was architecture, but I didn't want to spend long hours in the design studio.

It can be a good long term solution but you have to be comfortable with the property before you buy it.

But am not too comfortable with mid-west.

Since the margins are typically so tight on commodity lumber, the supplier either has to take the hit and match the market, or ride it out.4) If you're including trusses in this, those can vary dramatically - huge swings in price... in part because the design is subject to the individual designer as well as some supplier have in-house truss capability while others act as a middleman.  

If you like (love) a strategy, and your market isn't conducive to it, change the market where you invest to a market where your "favorite" strategy does work.This strategy works so well in my market, it almost seems as if it was designed around my market.  

If you think you'll get over the 40k/year mark in profits, then filing the S-designation is worth it. 

Regardless of that degree I felt more comfortable staying in the construction business.  

Regardless of that degree I felt moe comfortable in construction.  

After you've done enough of these, you'll fee comfortable using rules-of-thumb to screen deals, with reasonable knowledge of what your HML costs will be.