Any construction will come with LOTS of permits.I don't know SLT market, it's CA and im in NV, but I've helped more than one person sell in Incline and buy in Reno because the numbers work better for them.I suggest you look into property taxes, and tenant protections of NV vs CA. 

Looking to sell everything to 1 person instead of 130+ items to 130+ people.

What  are the implications to me legally if I rent out to a person that has filed bankruptcy? 

Me personally, I would save up a little bit more to at least 30K.

Furthermore, I have actively been researching and there is an ongoing housing shortage in the New Haven area, a consistent population growth, great property price to rent ratio, some new construction projects in the nearby area of the property and that it takes a certain type of person with great patience and “people” skills to succeed in these type of neighborhoods.

I wouldn't fix a faucet there without a gun on my person.

Often the money is the investor relations person who communicates with investors  On the Spark team I’m the deal finder and communicator.

I personally invest here for both the cash flow and appreciation.

And it depends on the person, but yeah, most will be over 10% these days. 

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.