You'll need more cushion between your income and debt payments to account for everything else - taxes, insurance, food, living expenses, etc...

Sometimes tenants do something that attracts pests (eg food is improperly stored, trash and food are left out, etc.  

3 seperate buildings, parceled as 3 seperate addresses so investor can get single family financing on this, is that correct?  

Urban Lot Splits (ULS) allow you to divide a lot into 2 parcels, and Multi-Dwelling Unit Developments (MDUD) are allowed up to 2 units per lot.

I'm assuming at this price you are buying one of the 2-acre parcels where the subdivision is not yet complete.

Just some food for thought...

I know of a lender around 7.3%, but curious what everyone else is seeing.Keep in mind, we're talking DSCR, not conventional. sounds pretty good is it all on one parcel or separatealso was there a buydown?

I’m a serial entrepreneur with experience in the tech and food distribution industries, now diving into real estate investment to build cash flow and long-term equity.

This is the structure we were looking at which is more of a subsidiary structure and this applies to raw land development: 📌 Structuring Plan1️⃣ Set up a QOF to raise capital from investors.2️⃣ Create a QOZB to handle hotel & parking development (each separate land parcels).3️⃣ QOF owns the land & funds QOZB for development.4️⃣ Raise capital through QOF equity, bank loans, or JV partners.5️⃣ Develop the projects & operate for 10+ years for tax-free gains.

And the fact that your post had at least three votes for it when I posted this shows that there are lots of other people who would probably be losing in PA under those same assumptions that just happen to be FALSE in Pennsylvania.Pennsylvania has some rather complicated rules when it comes to tax sales; the particular type of sale that the OP purchased at is one that does not divest any liens; it simply changes the party that is the owner, with the new owner taking title subject to all liens and encumbrances of record.With tax sales, the buyer must be aware of all the local rules under which the tax sale is being conducted, because the rules vary all over the place.Now, what the OP seems to have failed to do in his research was to cross index the recordings at the county recorder; the "missed" mortgage would have showed up on a search by parcel number if that sort of cross check was done (and assuming all indexed documents at the recorder are properly indexed of course - I have seen mistakes made attaching a document to the wrong parcel).