Thankfully my fiancé rides adventure bike as well and she's retiring this year from the business she owns and taking the necessary measure to insure we will not be procreating any humans! 

A successful structure is dependent on the underlying investment opportunity, the cost and access to capital, and in my opinion, most importantly, the human capital involved.

Investing in RE has nothing to do with the physical structure of the property....it's a by-product of the human element...and humans are unpredictable.

One thing is for sure: Human beings will always need a place to live in and tradesmen and women need to remain employed!

There is a lot of competition but I find if you treat everyone you interact with in each transaction as a human and you are friendly/polite with them , and not treat them as $$$ , it helps.

The owner is asking 600k and does not want to pay buyer dealer fees (initially). 

As far as the Federal income tax, unlike your rental income (assuming you are not a real estate professional), if you build homes for sale, you will be considered a real estate dealer for tax purposes. 

I been in the car selling business since 2013, basically  I lease an dealers license from a used car dealer, buy vehicles at dealers (only) auctions where you buy them at trade in value and sell retail, currently i buy cars that are ready to sell, its worth it to me even if i have to pay a couple hundred more, get em detailed and put them for sale at the used car dealers lot, once the car sells, i just pay my fees + sales man commission and get my check.My impression of RE is that there is way to much risk compared to what im currently doing,  you have to get approved for a home, unless you want to pay high dollar you have to get a fixer upper, appraise the home prior to buying (if dont purchase , lots $),have a reliable crew that will not rip you off and complete in time agreed, ect,ect.ect

It allows landlords to be much more humane and considerate with these good renters.

These rules/regs are always changing, and I've always had luck speaking with a human at the planning dept.