If you want to look at total expenses over the years, you need to look at total income received as well with your potential sale price. 

I have a program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable.  700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units. 

Receiving lots of interest and good feedback but no buyer yet.

A strong “Core 4” can make managing your investment remotely much smoother and prevent a lot of headaches.Also, as you narrow down cities, pay close attention to factors like job growth, population trends, landlord-tenant laws, and short-term rental regulations.Happy to connect with you, and good luck as you jump in!

Given that I utilized that $200K to buy over 18 units, the cashflow I received from those units far exceeded the interest on the HELOC.

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

I'd have the PM send notice to the tenants that it was brought to the owners attention and they've waived the fee and thank you for being good tenants.

@Adonis Williams, you've received great comments: It depends on so many things, including FICO, LTV, type of loan, etc.

You said in your post  "If the notice was delivered by mail then the notice period begins when the Tenant actually receives the notice."

This benefit allows the owner’s estate or heirs to receive the property at a new, higher basis—reducing capital gains taxes if they choose to sell the property after inheriting it.In short, partial disposition allows tax deductions for retired property components during ownership, while the death step-up basis resets the property’s depreciated value, providing tax relief for heirs.