My parents garage has a floating slab and the structure is attached to that slab.

This is not without issues (the biggest of which is getting more funds into the IRA/LLC after future contributions), but it is worth exploring if it might be a good fit for you.On the other hand, if you are not looking for as much control, I have a great deal of respect for Quest Trust Company and it's owner Quincy Long.  

Another home that is also under a VA loan in which my parents live (approx 1 hour north of SD).

We had to borrow from a 401k loan and from my parents in order to come up with the down payment.

Also look at easements (especially on the vacant land) and factor in parking driveways, will the city let you curb cut for additional access if needed or are you stick with what you have.Also look at the number of parking spaces needed for new builds vs what you have (will a new build trigger anything there), and consider if enough electrical is available at the site for new buildings.Is there a Town Approval Board or some other such PITA process you must go through to get building/remodeling permits, and how much control do they have over your actions (plus how long do they take to approve, and is it "The Old Boy Network" to get approved (???).

The perfect investment for me may be a horrible investment for my neighbor or you -- risk tolerance, expected IRR, control, diversification, etc all vary by individual preferences.

SchianoThis is all controlled by the Deed of Trust and note.

Our properties are so new it’s hard for them to get very distressed.You’ll have to live in it for 12 months (you said 6-12 so you have this under control, but you’re going to signs.

Temperature controls need to be separate, so they are not shutting and opening vents to regulate temperature. 2.

The gas is unfortunately not separated and has only one controller for the entire building (which is located in the 2-bedroom unit).