If you haven't done so already, your 1st step should really be to take a step back and figure out what percent of your portfolio should be allocated to real estate in the 1st place (after setting aside several months of savings as well as making sure you have a balance of investments in other areas as well). 

And because the typical architecture is Pier and Beam, we're having to build up the pad to give the appearance of that style, so my slab costs are higher than it would otherwise be.On my project, we've allocated 150 days for construction in the contract, so I'm expecting about 120 days of build time with 30 days of oops.

Now, a 60k property has the same priority as a 125k listing for me and I'm able to allocate more time/attention to it. 

If the bonus election is taken, then 100% of the allocation to the land improvements can be taken as a passive loss in the year the property was purchased.

If I do not have to think about it and only may allocation changes, that is passive, moment you have to do more than that, its not passive = real estate is not that. 

You will only get to allocate the gain between actual time of personal residence (qualified use) and actual time as investment property (non-qualified use). 

While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

My advice; attempt to underwrite 100 offerings before allocating capital to a sponsor (IF you don't already have a personal relationship with a great one!).

Honestly I don't see the BRRR model working in Boston for the moment (or many places).And many of the investors buying the standard 3 families in Boston proper have deep pockets and its about allocating cash (better than sitting in an SVB account) and less about return on the capital.

Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed.