Btw, I forgot the exterior elevation...that my wife sketched on the back of a Subway napkin

Check Ali Boones recent article about "back of napkin" analysis.

I just did some bar napkin math to compare the Conventional vs FHA options assuming a 30 year term and purchase price of $500k:Conventional Mortgage:Purchase Price $500,000 Down Percent25%Down Payment $125,000 Rate5.5%Mortgage Balance $375,000 Payment/Month $2,150 Interest Portion of Payment $1,719 FHAPurchase Price $500,000 Down Percent3.25%Down Payment $16,250 Rate5.00%Mortgage Balance $483,750 Payment/Month $2,622 Interest Portion of Payment $2,016 The FHA rate will cost ~$300/month extra in interest.

Damage to premisesThe Tenant agrees to keep the Premises, together with the fixtures, furniture, and appurtenances therein, in a clean and sanitary condition, in good repair, and free from vermin and rodents at the Tenant’s expense.

@Ali Boone Great information with the Napkin Numbers!

Sanitary code is very specific about how many Adults for so many square feet.We always had parents signing on the Lease besides the Students.

Keep in mind that larger builders can go much lower (on cost) based on their volume and operational efficiencies.Price Per acre: research recent, local, raw land closings of similarly zoned land - same as comp. for SFR.Development costs: The infrastructure (Storm water, sanitary sewer, water, power and retention pond), curb/gutter, streets are extremely expensive.

Numbers on a back of a napkin analysis seem good.

no. i am not a pack rat hoping that in 3 yrs i might use that (can of soup, napkins, butane torch, etc, etc). this is not a 3rd world country. we have everything all the time. and yes, i came from a country that had nothing 365 so i know what i am talking aboutpaying 50 cents less and keeping it for 4 yrs is a waste of money. i will never understand why people do that. but that's what makes shows like "couponing" so popular.

IDK, again, I'm just doing quick back of the napkin numbers here, and would need to look into in more, but other places in my neighborhood are booked about 20 nights a month for the next few months which means about 10 days worth of "rents" should go to the bottom line.This topic seems to have interested at least a few people, so I'll keep updating here as I look into this further, thanks for everyone's contributions.