A great property manager will essentially work as a project manager and asset manager for you.

I am going to manage it myself, so that will add another 180 to the take home, and yes, the 175 was after everything: management fee, capex reserve, projected maintenance expenses, and I assumed 93% rented (7% vacancy per year), etc.  

Hello everyone,I’m currently in the planning phase for a development project just outside of Santa Fe, NM.

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

For a truly passive experience you'd probably need to be an investor in private equity deals or be a silent partner on a project.

Nonetheless, you can base the DSCR calculation on PadSplit rent (if there's a history of PadSplit income being produced) or short-mid-term market rent (an analysis done at the same time of appraisal).

It was a fantastic surprise because it's not what projected was, it was perfect case scenarios. 

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

Also I'm working on a few commercial projects at the moment as well!

We were lined up to have this project complete by August which would still be in the prime time frame for selling this house.TLDR of my previous post - I ran into troubles with my first flip which was going on at the same time as this project.I had to pull my contractor from this house to save the day on my first flip.