I assume everyone is going to pay rent (one way or another) so getting it sooner rather than later is ok but not really an incentive.

Which will cost you the least and bring the biggest return to fix to rental quality?

Since the Selling Price is the biggest variable, the lower you set your Preferred Return amount/rate, the more widely variable the overall Investor Return and the more dependent that Return is on the guesstimate of the Selling Price.

E.x. if you already own the land..a joint venture will likely be available.I highly recommend the urban land institute and a book called "real estate development work book and manual" by Howard Zuckerman as a place to get started.City and Counties do play but most often with some sort of tax incentive.  

Be mindful that there is sometimes very little incentive for a borrower to participate in a short sale.  

This could be the biggest way to kill a deal. 

I would really like to do that my biggest problem is getting the money to get started.

Since you can purchase properties at such a low price compared to the monthly rent, they will cash flow very well.Your biggest challenge will be managing the properties since the tenants are more likely to complain.

Lots of growth in that area and they are working on a 555 acre park that will the biggest in Austin (onion creek metropolitan park).  

I suspect we'll be doing more tweakings along the way.Our biggest expenses are really just F&B and airtix when we travel.