It still has an older home and very large storage shed / hanger in the back.

Try to decommoditize your business by differentiating yourself in a positive way, specifically by adding amenities (in the large sense of the word) that your neighbors don't have so that they book your place over theirs or offering a better service.3.

There isnt a huge amount of difference between the two - the process is largely the same.

This is with me doing a large portion of the labor to decrease the overall build price in order to keep loan amounts reasonable. 

I can write my offer out without any specific format.

More often than not, I've largely seen equity partners looking to not leave their cash sitting for "long term" but under the right scenarios some may be comfortable with tying up their capital for a few years.

I've had pools in single family rentals and all our large apartments have one. 

The idea is not to completely ignore cash flow, but rather to seek deals for their potential for equity gains, even if that means a modest cash-on-cash return.Due to the combined forces of value-add, market appreciation, amortization, and leverage, seeking deals that build equity can generate large amounts of capital with which you can reinvest.

*Is the microwave large enough for a dinner-sized plate?

There are a LARGE number of platforms out there that you can use to perform many of these task in and stay organized.