I am finding it hard to locate deals that satisfy the 1% rule. 

Find someone who's been satisfied with their lender and start from there.

Not a good investment option.IF you can not satisfy neighbours the only other option may be to sell to a buyer interested in personal occupancy.

Assuming the as is (appraised) value of the land is equal to the amount of equity a 3rd party lender would require to advance a construction loan and a permanent loan, the JV (and or you) would not need to come up with any cash since the land value would cover the JV's need to satisfy the lender's demand for an equity infusion. 

I know i cant just look at them like a single family home, because most are setup in a way that they are more durable over looking nice it seems.I found one that is local that is turn key for sale, but its listed as a sinkhole property.. so im questioning if its worth investing into, because the mortgage would be like 1/4 of the rent value based on the numbers i was given. 

@Arturo Borges sounds like you’re searching for properties that are already listed on the MLS, which will give you a really low success rate of finding properties that satisfy the 70% guideline.

Therefore, I would like to buy a single family unit and convert it to a Multi-family.My question is that what should I look for in the type of single family that will satisfy my need.

Hi @Ned Carey - The auctions are to satisfy tax liens.

I've had two repair issues come up and have been satisfied with how he handled them. 

Flips are soft and beautiful; rentals are hard and durable.