I cannot change his mind so I need some suggestions. 

These last 2 questions defy logic in my mind, but some developers have built strip centers this way. 2.

@Dana LaBerge, If you don't mind me asking, do you structure your deal such that you pay interest on the $ that your JV partner is loaning you as the project is going on or do you give them a back end payment after the property sells? 

I have a good feeling I know what I need to get started and have it as well as far as funding, plans, house in mind, exit strategy.

I'll be keeping this in mind moving forward!

Im also open to collaborate with some like-minded investors if its mutually benefecial.

Its not you offering, but more of "hey, I might be interested, and keep me in mind".

Based on “substance over form” principles, it ruled that the IRA did not really own Roth Inc for two main reasons:• The IRA’ were exposed to no significant risk; and• An independent person in the IRA’s shoes could not realistically have expected a benefit.Since the IRA did not really “own” Roth Inc, the income really belonged to the taxpayer – and putting that money into the IRA resulted in a taxable “excess contribution”.More specifically, the court held that a $500 investment, absent any other significant risk, does not give rise to any real risk for the IRA.

Then calculate how many months it will take netting that profit to equate to the $131K that you stand to make on a sale now.Keep in mind, the profit you are making in rental income is taxed, but not as a gain. 

Personally, i spent a bit more to be in class "B" neighborhoods where even though the cash flow isn't as ideal, the peace of mind is worth it.