Don't like this one either.Other investors on here that have posted similar situations ended up selling for less because they tried this strategy.I would go for the second strategy and close it and move on.If comps start tanking in that development which you cannot completely control you need to find another area to rehab in.

All the CPA can do for you "after the fact" is help you with your (uncomplicated) tax return.Since you weren't asking anything about tax planning for next year, I agree with the CPA that your questions would probably all be answered by TurboTax for the cost of the software and a lot cheaper than the hourly rate you would have paid him/her.

I'm not a mortgage broker, but the MSE desktop underwriter software incorporates changes all the time.

Removing emotion from the equation will help you develop a more pragmatic approach.

Many developers in Houston deed restrict their developments to prohibit certain uses which could include MHs.

In development cycles there is a under supply,sweet spot,and OVER supply.A certain asset class can be over built and it is often times a race to market on who wins.If your project takes to long to complete and the market gets saturated by that time then you will have to reduce your anticipated rent rates and cash flow projections to bring in new tenants or you will have to spend more on amenities to justify them paying a premium price.Either way it will cost you more money.

What software do you use (and expect me to use) to do our accounting?

There are so many problems that can develop that you are not prepared for.

Although the software appears interesting, I'm not sure what to think of the monthly licensing fee.

Why not wait a year and see what develops?