If you build in the outskirts, the sale price will be much lower, which compresses your profit.2) construction cost if you're doing the work yourself, you're close, but still off I believe. 3) Soft costs - you haven't included this in your estimate.  

The wood filler sands off very easily, and the Abranet mesh is soft and makes hand sanding a breeze.Next, caulking time!

Also, completely replacing soft drop ceilgin tiles (if present) might be in order.

Sandstone is a 'softer' rock material, but it's not so soft that it can't function as a retaining wall if the retaining wall is built and designed correctly.

The more important thing is your soft and hard costs, however, 5-6 commercial clients will easily be beaten by 22 unit apartment.

I've never looked into and know nothing about him or his dealings outside of Vincent's podcast episode that quite honestly, I don't recall specifics of.One thing's for sure...I enjoy my soft pillow and good rest at night.

This means an acquisition cost, soft costs, hard costs, and basic financing terms estimated on a spreadsheet. 

Some businesses has less magnitude and higher velocity but ideally you want the most of both so you can create the highest net worth or asset value as possible.Example:Buy a 20k sqft lot for 200k Build 30 units @cost of 50k per unit = 1.5M cost (Including engineering, permits, utilities, soft costs and construction)Market rent is 950 per 2bd 1 ba X 30 units = 28,500 gross income per monthUsing quick 45% of gross rents for costs leaves 15,675 monthly net operating income X 12 months = 188,100 annual NOI188,100 annual NOI  / Cap rate of 5.75% = $ 3,271,304 value - total costs of 1,700,000 = net wealth generated = $1,570,304 & monthly cash flow created: $ 7,800 after debt serviceThe NOI is the magnitude or income and the cap rate/market rate is the velocity or multiplier in this example.This is only 30 units so you can imagine what can be done with much larger scale/models/numbers or businesses.

If you do not have the ss# it is still possible to get a soft pull of the credit most of the time.

You don't give a baby a ribeye but instead yo u feed them milk, then soft foods, and so on.