He now puts in they buy at 5 percent under the appraised value, and reappraise at the time of sell.2. 

I would start with a house hack or just a simple 20 percent down payment SFR.

Lifetime Cash flow with Rod Khleif (pick and choose), best ever real estate podcast - joe Fairless, and Real Estate Guys Radio Show

My question is should I expect my cash flow to be positive while I live there or should I expect to pay utilities and maybe a little towards rent or should I only accept a deal that makes me some money and has a higher percent cash on cash after I move out?

I do have strong credit and I can put up to 50 percent down on the land purchase and I am also potentially willing to use the single family home as collateral, although I have to confess I don't have a lot of info about if/how this type of financing can be secured. 

What that percent is I have no idea, it comes down to so many different factors.

My main concern is having to give away a deal of a lifetime due to inexperience and lack of funds.

(g) Unless otherwise provided in a limited liability company agreement, the management of a series shall be vested in the members associated with such series in proportion to the then current percentage or other interest of members in the profits of the series owned by all of the members associated with such series, the decision of members owning more than 50 percent of the said percentage or other interest in the profits controlling; provided, however, that if a limited liability company agreement provides for the management of the series, in whole or in part, by a manager, the management of the series, to the extent so provided, shall be vested in the manager who shall be chosen in the manner provided in the limited liability company agreement.

Everything they touch they own for life (lifetime warranty).

It is a lifetime of learning, starting when they are  young.