That is accurate for ARV conservatively.

I know there's a lot of details missing to actually give an accurate answer.

The client gets to receive the home as a performing asset with built-in property management in place so the entire process can be smooth and enjoyable.

A underwriting that i recently completed on an offer we made i used $600/month maintenance/cap ex and believe it to be as accurate an allocation as i could predict (4/3/1, 3100’, class a finishes).I use $300/month in my market on an attached 2/1/0, ~700’.  

There's a big swing here in insurance and tax calculations I see and getting those numbers accurate are critical for your ability to not miss on good deals

@Rafael Valdor some advice when screening PMCs-----------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

My biggest frustration isn't with the deal failure itself, it's more with the operating performance of the GP and honestly I'm not sure how an LP can really determine this.

As for the project, I assume Current is doing the horizontal development and will sell the improved lots for vertical construction, is that accurate?

Even if rents are trending up, if your tenant base can't make ends meet, the asset won't perform.

The only think I hear about hers is it is difficult to have work performed on it by a contractor.