With that being said and your post requesting a focus on partnerships, here are a few things to consider as you move forward.1) Do you need a partner - or are you simply looking for accessible forms of investment capital that will allow you to acquire properties with minimal hassles, given the underwriting requirements of most institutional/Fannie Mae lenders. 

I thought about putting a mobile home on it or a few depending on the restrictions for the county (I'm looking into that) and then the thought of putting some micro homes on it crossed my mind.

Therefore, in the future if you need funds you already have access.

If it's a bank REO- you will only have access to it once it's listed w a agent - at which point every investor and their realtor can see it on the MLS.

If you contact some of the major title companies, they may offer you access to mobile apps that can calculate local closing costs.

If he's putting in $150K cash, plus the value of the land (~$150K) and I'm supplying access to the loan ($350K) then the total value would be ~$650K for a built property.  

The ones who shop this market have money, or access to money, and jobs are still being created in Santa Clara County.

This assumes that you have the capital, or access to the capital to make the necessary repairs.I personally would look at adding to the house to make it at lease a 2 bedroom house.

I usually go to Google and type:site:biggerpockets.com <whatever I'm searching for>That will restrict Google to just BP articles about your topic.

However, it wasn’t until the 1990s when geodemographics became very important to businesses seeking to make wise decisions about where to locate.I first wrote about the lifestyle cluster data available from Esri back in 2009, and since that time, the ways that the data can be accessed has become easier than ever.