Paul Krugman, the Nobel Prize winning NY Times columnist and noted economist, thinks the plan is doomed to fail.Considering that Professor Krugman is a major Obama supporter and Keynsian economists who believes in big spending by government, this is a signal that all is not right in Obama-land.From Krugman’s March 22nd column:Speaking of the plan: This is more than disappointing.

We did a lot of driving around, and I was very disappointed.

For my area, property management ranges between 8-12%, though i sometimes calculate at 15% because you want to be pleasantly surprised, not disappointed and reaching in your wallet for more cash when you thought you'd cash-flow. 

We are so disappointed with our listing agent.

When I go look at the neighborhoods, I usually get disappointed.

Disappointed but not discouraged!  

I was disappointed it took 4 hours for four rooms, all myself, no help.On exterior house painting I painted the whole house in 8 hours. 

That's interesting and I'm sure a disappointment for you.

Is there anyone experienced in utilizing the Waterfall Framework in either a successful or horribly disappointing outcome?

The numbers: Out of Pocket Cost - Land $10,000                              Surveying $500                              Clearing $3000                              Closing Cost $5,000 (total for construction loan and permanent financing)Construction Cost and Furnishings - $81,000 (money I borrowed)PITI is $715 a month, rent is $1,100 both sides combined so I am cash flowing $385 per month.I was disappointed in my appraisal.