But from a moral & ethical perspective, you may want to decide at some point to just eat it and accept write it off as cost of doing business.

We did get much lower costs when we changed to minisplits but the initial cost is high.

Quote from @Daniel Gould: So it appears to me that while there's a free plan available to anyone in Invelo but the BP Pro membership includes access to the "Starter" Plan which currently costs $41/month otherwise - so this is a notable "value add" to the BP Pro Plan.

The cons, if the borrower doesn't pay on time or completely welshes on it then there's that oportunity cost. 

In other words, you will incur the cost of demolition just to get the raw land.  

Going this route is more involved and that makes it more costly too.

For example, if a property rents for $2,000 and costs $200,000, that’s a 1% rent-to-price ratio ($2,000 ÷ $200,000).

Seems like it's in a lower end area so if it is filled you will have tenant issues and turnover cost.

The best projects I've seen from my desk are folks who are doing hyper-targeted, well-researched deals that are generally in higher cost of living (there are exceptions) areas. 

The cost to maintain them probably wouldn’t be exactly 8x as compared to the single 8-unit, but it sure as hell isn’t a 1-to-1 ratio either.