Being a contractor for over 20 years and having formal education in construction management (Bachelors and Masters) and being friends with and having hired numerous construction attorneys, i can assure you you will not get a cost plus contract with the government that pays you each week.

Liability due to a failure to build to code will likely be dramatically more than the cost of inspections and meeting code, to include possible loss of life.I once objected to the cost of work requested by an inspector when rehabbing a deck. 

Here is my short term objective - to purchase a single family home in a decent area that I can rent out a positive cash flow.  

I have watched my local real estate market closely the past few years, I am on sites like craigslist, zillow, and loopnet numerous times a week seeing what's on the market, what typical rents are, what different types of properties typically sell for. 

I have watched my local real estate market closely the past few years, I am on sites like craigslist, zillow, and loopnet numerous times a week seeing what's on the market, what typical rents are, what different types of properties typically sell for.Over those few years I have seen numerous different properties advertised online in my area for owner financing, so I know there are plenty of property owners/investors that are open to it.

Do not sell them an idea, overcome objections  on the spot, etc.

Hi BP, I recently walked away from a deal because a seller home was unpermitted to be a multi family ( he also had tenants who were paying $1,150 which they broke their lease ,because of numerous reasons at owners fault) I have a buyer willing to buy but seller doesn't want to drop price any further to what the buyer will be comfortable with, should I continue to see if a buyer would be willing to buy it unpermitted at agreed upon price or move on to the next deal ( owner and tenant both called the police on each other, it was a show) it is a good neighborhood with waterfront homes.

There are numerous properties like this, it just takes time to find the right balance of purchasing in an older complex (lower cost) that's well maintained.

It sounds like you've done your homework, but for the benefit of this thread, here is some general info regarding the series LLC relative to real estate investing:- Unlike a regular LLC that is a single legal entity, a series LLC permits an unlimited number of “mini-LLCs” or series to be created, with the ability of each series to have different assets, purposes, business objectives, members or classes of members, and ownership interests.

I've looked at these areas numerous times.