Quote from @Eric Winkler: @Jeffrey Ascough - I am the director of sales and marketing for Delta - I have reached out to the builder and we will provide you with updates on Monday when the office and the permitting team is back in. 

Isn't this happening in many markets thought?

And markets with strong appreciation typically won't have much cashflow.

Cash flow is crucial, especially if you depend on it for your monthly income.Selling the property for $170k, which is above its market value of $120k, might seem like a good deal initially.

I chose to invest in 1272 Lakins Rd, Etna, due to its potential in a growing market.

Do you know the other markets well? 

I like the simplicity I get from VRBO market maker and can use that to set my rates through Host Tools.  

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

I try to evaluate a unique property 2-3 different ways, then make a highly educated guess based on my knowledge of the market.

Did you figure in the cost of the other tenant paying less than market rent until you can get them up to market rent or replace them with another tenant and how long that will take?