Thanks for the information, as far as the financing issues you bring up I believe that I will be able to get around the 4 property soft rule that many lenders have.

Based on your #'s you are buying at 77% ARV and you will most likely not make 15% by figuring only 8% for all soft costs and closing costs.

A developer would have to model out the land acquisition costs, hard costs, soft costs etc. to see how it would pencil out.

out of the 204k 37k were building permits. 3 k for plans and other light soft costs 4500 bank fee's and interest..

the way I envision that …during the attorney review I could draw the layout of the house and input what needs to be changed …the soft should tell me how much insurance would pay for that ..that I think might have something to do with how much I would pay for the material (?)

I know all to well the feeling of being in the military and not working for like people.

Not all have the soft skills needed for effectively working with tenants.

I think you have to watch chimneys on SFR, soft story buildings like dingbats that have not been reinforced, and liquification areas. 

Property manager will be me, but I can be soft which is a problem.3.  

I also generally allow a 5% vacancy and 7% maintenance reserve or soft cost in my calculations for ROI.