There is more than enough square feet, but there will need to be several cuts before installed on the rental.  

There isn't a clear cut answer to that.

That could cut out some new up and coming properties that should be considered when it comes to amenities.

And detached housing tenants always cut the grass and shovel the snow, and often take care of minor maintenance. 

He shouldn't just buy a finished product he should take a little more calculated risk with a pathway that others have done and he can get a full return of capital without the loss or his money getting "stuck" like we talk about. it's niche for sure but no different than what any developer does, we just cut the investor into the development and construction stack and do it in smaller zones where we know the numbers can support that. 

Lets face it, not everybody is cut out to be a project manager, and not necessarily on their first or second try.I would advise caution. 

You can certainly learn through free resources and online forums like this but a mentor can help cut thru the noise, provide clarity specific to your goals, and provide support to achieving them without the trial and error. 

Also many states have a cut-off date (in relation to some filing or event) where notices to junior lien holders are no longer required, if actual notice was even required to begin with. 

Or - if you just need a little advice, here to help.Wholesaling is a fantastic way to cut your teeth in REI and see what others are doing with their investments, don't let anyone discourage you, just learn how to do it where you are correctly structured. 

Only problem is with a short term my monthly mortgage payment will be 2K, and will cut deep into my cashflow during that time.With a little work I can get my COC to 3.1% per month for that 12 years.Appreciation is about average in this area and I expect to get about 4% annually maybe 5%.