There are groups providing TK properties,  and land banks looking for partners in neighborhood redevelopment [as seen in Detroit (from last season's "This Old House" project)]. 

On my investment projects I look at DIRT FIRST(location), then building, then tenant.You already need a defensive plan going in and a WHAT IF for options that pencil out and still make a profit.A harder one I have seen is a Sonic.

Resist the temptation of simply picking the one projecting the highest return.  

If you want to keep it, I would refi to use the capital for the next project. 

We have partnered with newer investors on certain projects as a Joint Venture.

I understand that no bank will finance any part of this until project is complete.  

I want to do a flip under my LLC but bring on a partner for the project.

After acquiring floor plans what is the next steps to getting it built?

Great experience with remaining learning to go with this project. 

I am not sure if he does projects that small but he may.