I Offered it to them at 10% below market with him paying utilities. he wanted it, so I screened him to verify he can afford it.

Still, we are looking for more granular data that breaks down by unit configuration closer match to the minimums set for each military, rank) plus estimates for the costs of utilities. 

So you would spend around $25-$30k a month (this was 15 years ago) on police details and require union gate and non union gate if you had non union workforce as well.In DC area, the utility providers are a huge challenge, whether getting permanent power, or water/sewer service etc - good luck.

Start with a standard offer, and write a contingency into it for electricity, all the below ground utilities, and then work your way to zoning, permitting etc.

Estimate utilities and figure out who pays them (separate meters, landlord paid, etc)5.

So all in all, the investment seems solid to me, and this is not my first rodeo, as they say.As for the risks associated with the SBLOC, I minimize those by only utilizing a portion of the LOC so that even if the market drops another, lets say 30%, the risk of margin call is slim.

You can also tell her to call the utility company about the best way to save, as turning off heat and on is not efficient having to run longer blasting out cold air as opposed to leaving it set at a lower temp. :)

Then I would speak with a land surveyor or civil engineer to get a sense of what it would take to obtain all the entitlements and bring in the utilities, etc.     

Prepare for additional costs: If you’re adding units, you’ll likely need to address the water meter situation and possibly upgrade utilities.

My tax advisor referred me to them, and I also utilized cost segregation on the properties, which significantly reduced my tax bills.