I think the most important detail is to know your partner, then do a detailed LLC or JVP agreement and spell everything out, down to last detail, including an exit/dissolution in case things go bad. 

I have more details on the numbers if anyone is interested.

And then for more details on considerations-https://www.biggerpockets.com/renewsblog/2013/08/1...There's a ton in the comments also.

And I know about the MDS charges - I'm looking at all the painful detail of a $200 water bill for a property with the water main shut off!

Study here in detail the BRRR(and R) system. 

Let's get together sometime, I'm happy to come over and take a look so I can give some more detailed advice or thoughts.

It's a fascinating idea, but it would mean the tax, assuming there was a reval that apportioned the current total by lot sq ft, would be so high that the pressure to build vertically would be tremendous as the revenue from the densest is made up by the less dense.

Does anyone have any details on this, or experience with this?

The goal of those things is to get you there, get you excited, and get you to sign up for a 3-day "training" that is reduced to such a ridiculously low price during the "free" presentation so that you feel stupid if you turn it down.At that 3-day training, you get more hype, albeit in greater detail, to give you more hope and get you excited enough to sign up for one of their "in-depth" training programs that range anywhere from $15,000 up to $50,000. 

@Ethan Cooke thank you very much for your detailed insight.