Pensacola has an excellent community of investors at all levels that typically are very willing to share so be sure and plug into our local investor community!

The exception is when the location is in a well populated area with major foot traffic of people who have moderate to higher income levels and they frequent the businesses in the area.

In my experience the $30-35 per square foot does INCLUDE cost of BASIC land prep (thing grass field to gravel lot) but would not include massive site leveling or cost of land.  

He said, and I could not agree with this sentiment more, that the most important thing, critical to success, is finding people he can trust to help him in these markets, and the level of trust is someone he could trust with his kids!

Open floor plan on the main level with living room, dining area, and kitchen with an overhanging countertop for extra seating.

Is that on a state level? 

It usually reduces your return on investment.Leveraging up will give you the greatest return, even though it's not the best cash flow.

However, I hate asking for money, but I know this is one of the only options to take my property portfolio to the next level.

Education level, training, and probability that you will remain employed in a lucrative line of work are also considered. 

First of all, I am not an attorney....But one of my greatest difficulties/confusions has been the same topic, structuring an LLC with a partner and various deals.From what I understand, it is simplest to create separate LLCs for your deals with different partners.