I think that has been answered pretty adequately.

All S8 really cares about is mostly health & safety issues and that everything works adequately.

This is a tough spot to be to simply think I can adequately cover myself securely with an umbrella policy, but I also want to get the best rate possible! 

Would love to see the forum lawyers opinions on the LLC vs. adequate insurance/umbrella coverage.

In addition to having an adequate monthly income, they can only receive up to 6% max in down payment/closing costs assistance. 

Review with your PM at year end, and stratagize for the next year.Be sure you build a reserve fund and/or have adequate credit available to handle emergencies and make timely repairs or improvements when they are recommended.Don't think for a minute that owning an investment property is the same as owning your own home.

Do you feel you would get adequate cooling and heating in the units to keep tenants happy? 

After you determine the project collateral adequately covers the investment, you sign the note at the bank, wire funds to escrow, and title records the note on the collateral's title.

@Chuck VanDyne  the biggest risk I see with a lot of SDIRA buyers is the don't have adequate reserves in their SDIRA .. they get a bad tenant or cash flow interruption and they don't have the funds in the IRA to pay.. and they can't put anymore in that year.. so its important to have an over abundance of safety cushion if your going to use it to buy the asset as a rental.

For me the numbers are adequate if not spectacular but I am learning as I go.