Do you save three months of vacancy for each unit and $50,000 for the roof replacement?

Prop tax's some of the lowest the country very low insurance stucco houses tile roofs and desert landscaping all lead to ease of maintenance over time compared to FLA which of course has all sorts of weather related issues that is detrimental to houses .. high prop tax and sky high insurance ( certain areas) But its also growing.. so there is that.

What about leaking roofs or accidents you can't predict?

They ones that need new roofs, have broken pipes, no heat source, or have water damage.

I'd think it's odd for a contractor to ask you to cover their fees for licensing, they should just build that into their bid.Typically for smaller contractors doing windows and doors or re-roofs we've seen them add a permit fee which covers our services the cost of the permit and also most of the time puts money back in their pocket.

Includes a detached 4-car garage, handicap accessibility, security intercoms, a new 2019 roof, energy-efficient windows, and a suppression system land to develop.

Ofcourse they have certain rules , some of which I might agree , some I might not , but at the end of the day , that is the case in every aspect of real estate investing .Anyway , I have researched extensively on using construction loans , and am doing a rehab with that approach , learnt a ton of stuff - If you ever consider that route , dont hesitate to get in touch via BP - I can review my notes and perhaps give some pointersThe first page on this website says "NO surprises" lol.

I know the roof was recently replaced and the largest unit 4b2ba has had some upgrades done.

Professionally, I have study and working experience in the German Taxation Laws and know that Taxation is a crucial and vital aspect in any business in any country.I already have property here in Germany and currently planning to expand to Dubai and Miami USA. 

This is certainly text book and absolutely the proper way to analyze a deal.Im not sure what he owes on the home but based on the payment and the year it was bought and the fact that its 20 min from Austin im just going to throw out 500K for conversations sake.500K compounding annually at 3% for 5 years comes out to approx $578,000, and you have the loan paydown aspect as well obviously.