I agree with @Jordan Moorhead, you will need a minimum 20% down unless there is enough upside where you can get a HML involved for a short period of time. 

Louis that fit the bill for SFR and newer homes and schools and all that.

As a result, I have many friends/ family/ business contacts that would be willing, and often ask, to get involved.  

Both my wife and I are wanting to get involved with Real estate, I have been researching areas, listening to podcasts, and reading books to expand my knowledge.

Some great advice I read here a long time ago is 'dont make the deal fit'. 

From what your wrote, and from what I understand about Homestyle, it might be a good fit for your situation.

Retail use or office buildings are $1M+, but I'm not a developer at all.In my mind, considering a property is already present (and might involve demo to upgrade the overall property), what's the best way to analyze this property.

If the IRA is involved, then you personally may not bring money into the deal. 

Also likely, the property is a little bit unique and that might have scared them away.Thanks for the feedback regarding lenders and others involved!

There plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country.