Though I don't agree with them fully the title "house flipper" has a negative connotation anymore and I do choose to separate myself from that in that we are home rehabilitation and preservation specialists focused on helping the home, homeowner, and local community. 

I thought the Appel to shioping containers were the lower cost in acquiring them after one time use .. sort of recycling them into viable housing .. have you looked into grants of this type ..or maybe even rehabilitation type grants that may provide money that could offset your labor cost here .. if your recycling and providing low cost housing along with providing local jobs ..

Or are there others that you are forced to do some rehabilitation to get in livable condition? 

@Joey CopperI have several rental properties in Hawaii and I self manage, I come to the realization that, I NEED to go to the next level,I rehabilitate “flip” homes for a living , my time has been consumed by tenants calling me for minor maintenance repair.

There also exist real rehabilitation programs that are well funded and taken seriously.

(f) The provisions of law and Executive orders to which subsection (e)(6) applies are--(1) title VI of the Civil Rights Act of 1964;(2) title VIII of the Civil Rights Act of 1968;(3) section 504 of the Rehabilitation Act of 1973;(4) the Age Discrimination Act of 1975;(5) the Equal Credit Opportunity Act;(6) section 1978 of the Revised Statutes (42 U.S.C. 1982);(7) section 8(a) of the Small Business Act;(8) section 527 of the National Housing Act;(9) section 109 of the Housing and Community Development Act of 1974;(10) section 3 of the Housing and Urban Development Act of 1968;(11) Executive Orders 11063, 11246, 11625, 12250, 12259, and 12432; and(12) any other provision of law which the Secretary specifies by publication in the Federal Register for the purpose of this subsection.Sec. 808a. [42 U.S.C. 3608a] Collection of certain data(a) In generalTo assess the extent of compliance with Federal fair housing requirements (including the requirements established under title VI of Public Law 88-352 [42 U.S.C.A. {2000d et seq.] and title VIII of Public Law 90-284 [42 U.S.C.A. {3601 et seq.]), the Secretary of Housing and Urban Development and the Secretary of Agriculture shall each collect, not less than annually, data on the racial and ethnic characteristics of persons eligible for, assisted, or otherwise benefiting under each community development, housing assistance, and mortgage and loan insurance and guarantee program administered by such Secretary.

It's essential to thoroughly evaluate owner financing deals, especially when they involve properties that require significant rehabilitation.

When done right, investors can purchase a distressed property for a relatively low cash investment, fix it up, and rent it out for strong cash flow.Building equity: One should also account for the amount of equity that is built up during the rehabilitation phase.

It is insanely profitable: 1) I find and place a vacant single tenant commercial property under contract with a 45 day due diligence (to inspect the property with no obligation to purchase it) I need only $5,000 for Earnest Money Deposit that's refundable 2) I contact a list I created of 4000 national tenants (I follow a very specific system) and get one of them committed to lease the space for 10 or 15 years with a NNN lease (NNN means: Tenant pays the lease plus taxes, insurance and maintenance) and a corporate guarantee (lease is guaranteed for the duration and backed by their financing bank like Wells Fargo) and I would offer them some money to offset some of their TI (Tenant Improvement for the location) I can offer up to $100,000 to sweeten the deal and get an LOI to lease from the National Tenant 3) I take the cash I have (in your example $1,000,000) and buy the property all cash (say for example $900,000 and $100,000 additional will be going toward the rehabilitation of the commercial space for the tenant as agreed) 4) After I close on the property and the Tenant signs the 10 or 15 year lease I go to the bank and get the property appraised It usually appraises at 1.5X what I purchased it for when it was vacant.

Buying property in bulk and rehabilitating multiple properties simultaneously allows the use of economy of scale to lower costs.