Generally, most people do not qualify since it requires you to do be doing more than half your time as in real estate related activities. 

Developing property, especially with a trial-and-error approach, requires careful consideration.

If your looking to house hack I recommend you research the VA habitability requirements.

It took some work but we jumped through all the regulatory hoops and were able to get site approval on two separate land tracks.  

There are investors who offer them but they usually oly offer 60-65% LTV/CLTV plus it required No income - just rents.

But there are no laws or ordinances that require a buyer or seller to use one.”I’ve never purchased in an attorney state but it seems like something you could handle yourself or with minimal help as you know each other. 

We fear the requirements of a subdivision, such as roads will not only be extremely costly but also damage some of the hay ground.

You are not only impacting your tax return but the tax return of your family members.Partnership returns became more complex recently with the requirement to keep track of tax basis for each member.

Especially for first time or entry level homebuyers...what is the point of 3% down if buyers will require another 2-3% out of pocket to cover their broker's fee? 

FAILURE IS REQUIRED.It's not just a possibility that some folks are SCARED of ... it's a REQUIREMENT to success.In fact - the quicker you get there, the faster you see results.