I actually ended up going through a big career change, and attended a 6-month bootcamp to learn Software Development after 7 years cooking professionally in fine-dining kitchens. 

Most of the homes we built on these lots sold at a profit, but a couple did not, again, because of the reasons above. 

Let's talk,DanIve actually been looking into buying a condo myself as an investment, I have a few rules, needs to be with both good hoa management & relatively cheap fee (bellow $600 a month) needs to be in area where I’m not competing against other new construction apartments, needs to be an area where even townhomes are so expensive you are not competing, I.e. upper nw, nova, Bethesda etc. needs to be 1990’s or newer in most cases.

However, it's a safe bet that these respective areas will continue to appreciate steadily for the reasons noted.

One of the reasons I went with the PM I did was because they posted what they charged on their website, so it was transparent and everyone gets charged the same.

For multiple reasons it was a slow, dirty but eventually profitable process.

If you need an LLC for tax reasons later, you can move title into an LLC later for a couple hundred bucks.

I worked with one and that experience is the reason I now own my own PM company. 

Looks reasonable to me.

The reason I ask is at that rent point there is no profit on a sustained hold.