One was a straight-up purchase, the other included a loan component.

A main component of my team is helping investors find multifamily properties around the greater PHX area.

It had a mobile home park component, self storage, commercial and industrial tenants but it was interesting figuring out how all the numbers worked together.

Today, Texas is the top state for semiconductor manufacturing, having led the nation for 13 years in the export of semiconductors and other electronic components.

And then there's any cash-out component. 

You can start to educate yourself on the individual components; how much does it cost to paint on a per sqft basis or what is an average kitchen remodel.  

As you mentioned intentional flips are typically considered inventory-This means the income is ordinary income and as such: - Is not a capital gain, so hold time of 1 year does not change to a better long-term capital gain rate - Can not be invested in a QOF Deductions related to it can't be pushed or changed- all costs are accounted for with the inventory component 

@Cameron NordinA cost segregation study accelerates depreciation by classifying certain building components as personal property or land improvements, allowing them to be depreciated over shorter recovery periods (e.g., 5, 7, or 15 years instead of 27.5 or 39 years).By accelerating depreciation, cost segregation lowers your tax basis more quickly than standard straight-line depreciation.

Likely the reason it cash flows on paper is due to a very large construction component that you might be underestimating.

The other component here is understanding the bank's business as well.