Sam, There are barely any units in this development that are leased so the issue is not the ratio of leased vs. owned

@Chris Collins  thats one whopper loan for bare un entitled dirt  wow !! 

From a feel perspective it’s like stone but doesn’t have the same cool-touch that you get from bare concrete.

I'm barely breaking even, and this would be a huge cost for me.

You need to research your market.From a financial perspective your monthly rent should be equilivant to 1% of the value of the home as a bare minimum.

A friend had 3 rowhomes there, pulled out after 3 years after barely being able to evict tenants.

I concede it barely cash flows without 50% down but it’s one of those purchases that’s for the longer term if not for shorter term cash flow.

Is it an absolutely bare bones block building?

It's been 6 months and the house is still bare studs.

What I can't understand, is that if you pull 80% of the equity out to buy another property, all you did was make your payment much larger and you no longer cash flow, or just barely make the expenses....