Demo, finish work, etc can easily be done by you.  

Should easily rent for $1400 total in my neighbrohood.  

Second, they are standardized (I know, not always a good thing), but because they're standardized they're (generally) consistent throughout that state/jurisdiction and easily recognized, understood and interpreted if and when you ever have to go to court and enforce/defend it.  

Dear BP,my RE attorney would act as Trustee but he doesn't feel comfortable enough to set up a trust deed etc. for a land trust which would own an (existing) LLC as he's never done that before.The US States involved with respect to the real estate are currently CA and UT but this could easily expand to other parts of CONUS.

Development costs help determine what I developer can pay you for a site.Additionally you need to know if water, sewer, power are easily available to the site and would you need to upgrade all the lines to larger ones to make it work. 4 acres away is a universe in commercial to another commercial corridor.

Rent a room to a graduate student or professional and you can easily come close to breaking even and learn more about real estate in the process.If you're dying to renovate a home, I'd suggest going conventional for a grandma house that you can cosmetically upgrade at your own pace, then after a year or so refinance with another bank.Good luck to you in your search!

The problem becomes if I have a problem tennant, that I can easily lose the years income.

That way you minimize the entanglement while still giving him returns he can't get elsewhere very easily (8-12% interest). 

Never...ever...ever take some random opinion on BP that “Oh sure, your lender will easily do it.”

Inspections can easily add a month.