To answer your question of why building more affordable housing is not more appealing, simple math - per square foot delta of building high-end vs mid-range is perhaps only 15%, but the delta in GPR is much larger.

Yes a simple JV would work.  

Simple...someone who knows how to find/spot a good investment property, preferably an investor themselves.  

My metric is simple, I want to put in as little of my own cash as necessary, and I want a (realistic), net $1,000 a month cash flow, after covering property management fees and debt service.If I bring in an investor, they get paid back/off first.I hold until Jesus comes back, therefore, I want to be in an improving neighborhood, not a declining one...

A simple way to look at it is, can you invest money and get a return that is greater than the interest you would be paying on the mortgage? 

Since Iwas 17 I have been in the construction business plus I had a broker license for about  30 years but have never done that full time.In the begining of investment, just be patient and keep it simple.  

It's fairly simple if you follow theirs rules exactly.

Simple and easy.

Inside is a simple black-and-white letter with my signature at the bottom.1.

Whatever you choose to do pick something you like and keep it simple and the average of that neighberhood.