Certainty in this industry is merely an illusory facade - costs and timelines often exceed expectations by double.

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This could be a huge problem, as the "the rent is too damn high" people will be extremely upset with huge surges in the cost of living, felt acutely in some major metros.3) 2027-2029 should see a return to a more normal inflation adjusted rent growth curve, with the caveat that if supply continues to remain relatively low, we could see national rent growth outpace inflation in these years as well, so long as interest rates remain high. 

You have fixed cost so it is better to get some bodies in there so you can get market rent later. 

If the building cannot be salvaged,  a lender could still provide financing for land value less demo cost.

Flipping homes can be an amazing business model but there is definitely a higher chance of you losing money then other avenues so if your afraid of costly mistakes that might not be the best way to start then.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Thank you  I would echo Chris above in that I would shorten the term and add upfront cost.

They are far more common now and harder to find models without but:1) these add cost to the purchase price2) they don't bring a lot of value3) they can leak or detach and damage the propertyI own around 50 doors and I cap off the line at the wall or in the basement with a valve and a cap so the potential for leaks is 0.00001% :-) 

You will have enough for a small downpayment on each option, depending on the area chosen in each case, and you won't have much of a cushion after closing costs.