Advice on working two deals simultaneously

[Roland Glenister]

I've come across a deal for an 8 x 1 BR 1 BA unit apartment complex at 100% occupancy with rents currently under market value.  It's near a hospital that employs a lot of travel RNs and a small university so I'm confident that it can stay rented.  By the numbers, it will cash flow $1,700 per month as is even after factoring in vacancy, cap ex.  A ton of rehab potential as well.  

The problem is that I am a physician getting ready to finish residency training (low cash on hand currently but will make $500K+ in my first year out) and I am in the process of building my own family home, something my wife has anticipated since I was in med school.  It's nothing extravagant and well below our means, but the issue is timing.  The property has only been listed 24 hrs and I know it will go fast.  Any advice on how I can make both of these deals work simultaneously?  Estimated completion for my home build is June 2022.  I'm concerned that if I get a loan for this deal now, it will affect my ability to get a mortgage for my house when it's completed.   

[William Walker]

You’re going to be making 500k a year and you’re going to pick up 8 tenants to make another 20k a year?  

Let’s guesstimate after taxes you’re bringing in 23k a month for MD job. Is the extra $1,700 a month worth it for the hours, liability, risk? and to irritate your wife?