In analysis of subject propert the cap rate for 103 property in this area is 5.4%.

Borrowing against your paid off house without an income puts way too much pressure on the success of whatever deal/project you decide to pursue. 

I would say any rehab project would need to be fairly close to me.

Its a good thing they profited, because projects can go south sometimes and then that really hurts.  

I am thinking of that being one of my next big projects if the community is wanting it. 

Very likely the condo project would not even be eligible for an FHA loan.

As soon as I finish the lake house project I have a 1-1 condo that I can get cheap that I was going to try to concept on. 

In my market every PM would charge more than your projected $350/month (which I already indicated is not reality) to manage two average size units in a duplex.This does not mean cash flow does not exist. 

I'm looking for deal analysis for flips.

Honestly, I never fully understood what they meant—until recently.I’ve been diving into some larger-scale real estate projects, specifically in commercial properties and multifamily development.