The terms you are suggesting appear to be for an existing development that may be re-positioned. 

(EDIT - please ignore some of the colors, they do not mean what they may appear. Red

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You might argue that it provides the greatest cash flow, but there appear to be more profitable routes on the table.Item #2 appears to give you the fastest rate of portfolio expansion because you can theoretically have 5 units in the near future, all producing rent.

It does appear on my bank statements.

It does appear on my bank statements.

Checking flood maps the area appears to not be prone to flooding. 

it appears they are in Miami but when you see their term sheets says PA.  

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These folks owe the bank $36K and the property appears to be worth no more than $20-30K on its best day.