In addition to cash in cash returns and capital gains at sale, I also look at the debt coverage ratio to see if the property can support its debt service in these scenarios.  

My wife plans to partner with me over time and at some point I might look at taking on additional partners. 

Yes, the lots are much more expensive in Cape Coral, although, you can sell your end product for a lot more.

I wrote a blog post last night that may help prompt some additional questions for you to use in your search.https://www.biggerpockets.com/blogs/8756/51616-tru...

Occasionally, you will find private money lenders that require a percentage of profit on the sale, rather than, or in addition to, the other fees and/or interest.Loan terms can also vary, but most private money loans tend to be about 6 months.

For me it makes sense to contribute to my 401k, realize the tax savings and simplify my life (by not managing additional assets in real estate).  

@Chris Nowlin, Like kind would be any kind of real estate that is held for productive use in business trade or for investment.  

If you use all that money to pay it down you incur a growing opportunity cost for not utilizing that money on something productive. 

I am considering using this property and some additional equity as leverage to buy a larger multifamily, but haven't yet found a property that I'm interested in.My goal is not to have a ton of properties, but to have cash flow to exceed my expenses and leverage reduces cash flow.

Hi, I am looking at doing a rehab and addition on an older home.