If you'll be using your own capital and not syndicating these deals, do you also have enough capital to pay all of the carrying costs while the renovation is going on and the property has no income coming in?

Landlord policy only covers like 10 basic things, that’s it, and water damage (like from broken or leaking pipes, hvac issues, and water lines) is not one of them. but some carries let you buy this additional coverage.

I know that partnerships are a way to scale faster, but they also carry a certain amount of risk. 

I believe even less that a seller financed property would be carried by seller for 20-30 years.

Generally these are not easily compatible with owner carry financing. 

You need to be in a market with high demand or the time and carrying cost between breaking ground and profitability will simply be too long and will kill the deal. 2 - Zoning. 

A 15yr payment is a smarter financial decision, but you need to have the ability to carry a higher mortgage expense.

@Justin Lee Taylor  How much would your costs be (carrying costs, repairs, etc)? 

@Jacob RzewnickiAny chance the seller would carry the note on the second one in like a 3-5 year balloon?

That also means then that the original seller who carried your loan will be paid in full upon your sale.