When a deal pans out as projected, everyone (almost everyone) is happy.  

I was thinking this might work on my property in Redding and can be adapted to a shared housing project for seniors (though I'd want rooms large enough for bed, bath and seating area)  It's my understanding that it is considered a SFR with seperated bedrooms as far as planning.

Great projections!

The art is in accurately projecting numbers, which is notoriously difficult.Forget complex investing strategies as someone new to RE. 

@Damien Davis you'll make less on the initial projects but the experience you'll gain will be completely worth it.

I was thinking Stamford at first, but the projected rents seem low for the area.I have one comment on the financing, you mentioned a 30-year amortization but then also mentioned interest only, which one is it?

Any real estate you buy here you want to hold for the rest of your life because of how many growth is projected here!

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

Do an actual tax projection first before jumping to conclusions.