Also, you didnt mention any financing costs, was this built with cash or do you roll that into your cost of construction?

Multiple people including myself have tried to caution him of the the true costs but he's been repeatedly dismissive and has made it clear we give him motivation and he wants to prove us all wrong (whatever that means). 

with investing in new construction, you were able to get a property that will have low maintenance cost and will be easy for a for a PM to manageFeel free to connect if I can help anymore.

The truth is, they will keep playing games and milk you for every penny they can, then they will leave the house a mess and cost more with cleaning, repairs, and vacancy.

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

I think its a scary feeling, like the cost of entry is too high.

At that class of property, the turn overs are costly. 

It will cost less than $150,000 and will need moderate renovation work.

The stone elevation can be expensive but will really move a house quickly with the added curb appeal.Some things I like to add for not much extra cost..

Most DSCR programs will want you to have owned the property for more than 6 months to allow you to use appraised value instead of cost.