The great aspect for me is that there would be no land cost basis and I would get the experience managing the flip (I have never done a flip yet).I believe there is definitely potential in this deal but the issue is that I do not own the lot. 1) Is there a way for me to get financing on such a deal (hard cost around 500 k) say if I had a JV agreement with him but did not own the lot? 

Let me know :) Brendon, I appreciate you reaching out :)I would appreciate your knowledge definitely !!!

But the numbers definitely dont make sense if you are trying to get some cashflow.So, I settled with a B class.

Don't go the restaurant path.

I've lost about 8 properties so far, and while this isn't great, it's definitely in a good location with plenty of upside.  

Freedom Mindset – Are you pre-programmed to see money as the path to freedom?

Definitely look at a local credit union.

There are many reasons to manage your own rental properties, but being able to fill vacancies when and how I choose is definitely one of the greatest benefits to me.

This is a question that I was struggling to find an answer to but with you guys help, I definitely have a clearer understanding of this particular situation. 

Thank you for your response and we will definitely get it out in the contract so we aren't paying it directly.