The precise property forecast can vary depending on a lot of factors but the general demand is really what you should use the tool for to make your plans. 

Also are you planning to hold the lot?

Quote from @William Taylor: Quote from @Travis Biziorek: Your numbers look OK-ish to me.Some things that jump out... how are you planning to buy this with so little down? 

I don't plan on going on the actual auctions :/.   

Not that that is a bad thing as some are on lower comp plans but they are at the mercy of all having "overlays" and have to sell their loans.

@Mike Donovan in Narragansett, RI we wound up with a RI FAIR plan due to the fact we rented to students.

Are you planning to rent the entire unit at the 2nd year mark? 

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

I think your plan has merit. 

Cash Flow Management: If you take out additional debt, it's crucial to have a plan for managing your cash flow. 4.