After the initial construction period and the value is created I should be able to get everyone's money out so their risk is negated. 

I'm not afraid to get my hands dirty and work hard to create an unearned income machine for myself.Any advice on the best way to go about purchasing this property?

When I mention Amazon will create 2000 jobs in East Palo Alto, CA.

If I created an LLP, I believe I could have the LLC (or S corp) be a member but I’m not sure if I can do that with an LLC, and I am unsure what the best structure may be to balance protection and taxes.

To answer your questions. if i would be starting put now and i don't own my own home i would have bought a 4Plex that is value add deals. live in it for a year or two while the tenants pay may mortgage, at the same time will be adding value to create equity. 

I am interested in REI because I want to create another source of income that can eventually, which I understand is potentially not soon, completely replace my income.

That is how wealth is created.

In the mean time, I have this great spot in East Nashville, corner lot, secluded street, etc that I'd like to use to create some more income. 

If it does catch on, you will have to include me as a footnote to the story of how you created a new category in RE investing.

Being a long distance land lord is all about setting up systems, creating a network and having good people available to you.