I realize I don't have the actual NOI, but that price sounds super high for the gross income you're stating in your narrative.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Just looking at Zillow I’m having a hard time making the numbers work between prop taxes, insurance, management on 20% Down vs cash currently earning 5% (albeit that 5% going away soon with rate cuts)  To be completely honest, there's not much right now that will give you decent cashflow without getting into a full rehab.

The only thing that sounds out of the ordinary here is the water bill

The conditions on the ground going into the project may not be the same as when you complete!

I have something I will buy regardless of others’ buy-in, but the way I see it working is I get it under contract, present my plan to a couple others who are interested and more experienced, they agree to partner and we complete the purchase together.

 @Sheri Fluellen, I completely undersand and I hope it works out for you.

Of course "hoping" rates will come down is not a sound strategy so finding a way to assume a loan that already took advantage of low rates is a great option.If you were starting over and targeted a large SFH, would you try to maintain the property in a way that would still attract regular homebuyers (not investors) if you needed to sell?

That first deal after a break can feel like a big leap, but it sounds like a great opportunity.On financing, seller financing, private lenders, or portfolio loans from local banks could be worth exploring if you want alternatives to hard money.Excited to see how this deal goes for you.

Quote from @Cari Sweet:  This sounds like a case for Fair Housing- Familial Status discrimination.