We went with the Rockford line which I believe is the base line and they are still solid wood/soft close cabinets and drawers.

The best way to approach is, buy the land, get an approved permit, then face a lender, make sure you have 25% or more equity (free and clear land + soft costs or approved plans plus paid utility taps), by then, you should not have any problem going after that big bad wolf.

With closing and funding & closing costs, on the buy and again on the sell side, hard money would have been a lot easier and comparably priced to Wells Fargo, our lender at that time.

Your return estimates are a bit soft because there's not a specific house, I suspect.

@David Krulac   we normally can't pave in Dec or Jan.. as it has to be 40 and rising.precip is our problem... soft spots on the first roll out etc etc. but we are getting there.Might have an offer coming in from Lennar or Horton... and or both... if we can take a nice profit in one transaction we will move it and go to the next one..

The debt ceiling, the EU, greece, the latest soft patch, etc.

I like to have a set of pics from before moving and to compare ... they may remove towel bars, etc and you may forget that there used to be a towel bar there ... until the next tenant asks you why there is no towel bar and requests that you install one.    

The human in me applaud's you for your ethics but , the business man in me wants to slap you very softly lol..only because, if you had bought those properties for more money and they were not paid for ..would you then raise the rents to iindustry standard minus the discount for being on time .. ?

You are too soft to handle tenants directly.

Take a soft approach when contacting the owners and expect 90% of them to tell you they're not sellers.