When i press on the cracked areas, it does not appear soft or wet.I plan to fix it, but I worry it may reappear in months.

Always recommend doing a soft-pull especially since not sure exactly when you'd find a property but you can get qualified and get some estimates.  

Or when is the time to throw in the towel?

Your 'cost' should include everything, from land purchase, soft costs, holding costs, and hard costs.

Sixteen homes to inspect- roofs, hot water tanks, soft floors, siding damage, decks, porches, furnaces. 

These are all upfront soft costs before you break ground. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

With investment properties, most lenders I work with prefer to have an address to work with in order to provide a "soft" quote, which does not include a hit to your credit.

Stay away from grey LVP pick warmer colors if possible, choose hard surfaces for common areas and soft for bedrooms.