These were custom homes & when the subdivision grading was done we did not know the size of the homes nor their driveway locations.

The plumber had to drive to the store to get the right sized part, and then also was not told that he didn't have to install the tenant's washer which would have saved us money because he called a second plumber to come over and help him lift the washer.

How about a modest salary during the hold period for the capital raiser, no big acquisition fees, disposition fees, or AUM fees/management fees that scale with size, a requirement to be full-time on the job managing the money, and large upside AFTER LP capital has been returned?

In industrial, my experience is clear heights, door count and size, loading dock access, and (probably not the case here) how perfectly level are the floors.I would also run a price sensitivity on how far rents may be able to drop to still make this worthwhile.  

The automatic late fees and payment reminders are SUPER useful at any unit size.

They will probably have different lot sizes.  

@Emory Clayton what other potential renters do you have and what size is the house. 

A HELOC carries a higher rate over a shorter amortization usually 10 or 15 years and a mortgage carries a lower rate over a 30 year amortization offering a lower payment.You have to run the math in each scenario because the math differs based on a few things like Fico score, CLTV, Loan size, and time frame between purchase and refinance of new property.

I am in the middle of closing on a mid-sized apartment deal in Mcallen, Texas.

That doesn't happen when they have a fist-sized hole in their chest or head.