Also, have you made any significant alterations to the property or if it were put on the market today, would it be indistinguishable from a standard 4-bedoom house (are there any extra walls for the SRO, constructed locks/barriers etc.)If its a standard SFR and the leases are very short term - there is a path that you could refinance this with a DSCR as basically a Short Term Rental and then potentially change strategic course back to SRO if needed at a later date

Then of course, you are also hoping for appreciation.While it is attractive to not have to worry about cap-ex for a few years, many maintenance issues are usualy tenant-caused, so there may still be ongoing issues & expenses needing attention.Another option may be to buy an existing cheaper property, that's still in overall good shape.

And of course they have no money so going after them is like going after a dead beat tenant..

I have bought off market deals direct from owners, from wholesalers as both a dual closing and contract assignment, and of course listed deals.From the surface, this sounds a tiny bit shady, but not over the top.  

Of course you would!

Of course, developers (sellers) and builders (buyers) have debates a lot on those various line items in the proforma (especially hard and soft costs).

Of course, have a professional inspection done that enters each unit and do a sewerscope.

I would try to network with other MTR landlords in the area to determine best course of action 

One Cost Segregation Study is included in our package with the Tax team as well and the tax savings would actually help us to get started investing of course.

Of course you have your own guys, so that saves you a lot in labor, as I’m assuming you’re getting decent quality for good prices paying them direct.