I know I'm late to this party, but spent some time researching and thinking about this today.  

I am in the warm banana belt here...snow changing to rain today..

:<(I had an agent contact me today with 1% deals, both in the Central Valley, small towns.  1 is a 7 door deal (4 houses, 1 triplex), the other is a 4 plex.  

You should only purchase vacant land with the end in mind and then work backwards until today.

Fast forward to today and we are terminating our loan and escrow.

All the hurdles that young people face today that keep them renting or living at home are still present.

Market to a different borrower.I would target investors that are successfully investing today and are either using hard money already OR that could be educated as to the value of using hard money.But I agree, you want to get out of having people come to you because they have no way to get any other financing and are reaching.  

If you were allowed to do 3 units, hopefully if you do your math right, you will be making your money while renting the place. you can make money buying and flipping if you buy low and sell high, holding a property you count on the profit as your income source, neither of which does anyone go into with the knowledge that values of the properties will go up. the flipper knows there is room to make money based on today's market, buy and hold bases on long term income. 

Got my first nibble today.

I've always bought turnkeys, and back in about 2011 you could find a decent property with that kind of return....but certainly not today.