I don't think I need to have that exactly figured out on day 1 of my first rental purchase, I need to get into the game. 

What you might consider is finding a partner that has the development capacity, and figure out an equitable development cost and profit split.

Actually my $50mm figure above is wrong. 

Hi everyone,Im trying to figure/find out how strict the rules are when it comes to getting an FHA loan (I want the minimum down payment) and renting it right away.

and I'm still sitting here trying to figure out how I can classify all my income as tips.

Economic Timing.According to data compiled by Marcus & Millichap[2], the Portland area has experienced three very important trends since 2010:The average price per unit for apartments has nearly doubledThe rate of employment growth rose from 2010 to 2015 but has since declined steadily, projected to be up 1% for 2020 (estimated before COVID-19)Roughly 30,000 apartments have been built since 2010, with another 5,600 units slated for construction in 2020Most RHA members have enjoyed a solid decade of price growth, rent growth and steady occupancy.

If you are looking on Airbnb at underperforming rentals I do not think you have a way to figure it out as Airbnb gives about a .25 miles bubble on the map. 

Can I leave them off of the original purchase since they are gifting me the money (6 figures) or do they need to be on the original deed and then when I get the mortgage remove them?

Part of my calculations does figure in vacancy, repairs, and capital expenses.  

I might not be an experienced builder, but I don't see how this BIG of a mistake was just figured out.