You might also look into learning about BRRRR (Buy, Rehab, Rent, Refinance, Repeat), a popular method for scaling a portfolio.Network Locally: Engaging with local investors and attending meetups in markets like Dallas or Fort Worth can provide insights and connections that are invaluable.You'll find that momentum grows quickly.

Also, you didnt mention any financing costs, was this built with cash or do you roll that into your cost of construction?

I have refinanced (rarely mind you as there are costs that take years to recoup on a refi) and am happy to see equity build as the mortgage shrinks.

A friend and I created one recently:https://drive.google.com/file/...It was meant to compare costs between different lenders, but you can use it to just see costs from one lender as well.

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

But for large multi-family, that amount hardly covers your legal fees for one transaction, let alone down payment, due diligence costs, lender fees, other closing costs, etc.

The larger the purchase price the greater the spread you need between purchase price plus holding costs plus rehab cost and ARV.  40k projected profit on a 600k project is too skinny for me. 

We agreed, and then they informed us after the fact that the cost end up being $2,000.00 because it was "so dirty." 

I wasn’t trying to be long winded, with too much detail, in my initial post but I actually did this method on a fix and flip.

Roll them all up and the averages are:purchase $154krenovate $47Ksell $232kThese are gross numbers, not including closing costs, borrowing costs, holding costs, licensing and permit costs, G&A, overhead, commissions, forward rate buy-downs, and lease-up fees, to name a few of the many expenses incurred.