Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Multiple properties listed on the website portfolio appeared to be ones they would possibly not have initiated the LOI/PSA/sale as the properties are known to be bought/run/sold by other entities/syndicators.

To be fair, I've encountered situations where the Section 8 rent received was higher than what cash paying tenants were paying.

It can be trained to provide an initial analysis but I agree, nothing replaces expertise and sound underwriting. 

I stumbled upon this thread and I'll admin I've only just read your initial post.

My initial thought is that the developers may have gotten a much better deal than they would have otherwise given the clear limitations on the land's use.

Second pro is that you get to lower your living expenses or live "rent free" by having your tenants pay for your mortgage payment.

Plus, you have to pay the cost to be the boss.

"Urged people to withdraw money from 401k/IRA and pay a penalty."