That amount and the debt pay down that your tenants are making for you should also be added to cash flow for your ROE calculation. 

I am hoping for lower interest rates but I calculated I would need the rate to be low 3’s to break even.  

Confirm with your CPA that any excess loss was reviewed for NOL calculation and properly carried forward.

The profit-sharing agreement, signed directly with the lot owner, should outline the terms of splitting the net profits after the sale, including how expenses are calculated and timelines for payouts. 

Calculate costs with inline meters on the electric and water.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I also value cash flow with intent to fund a fix and flip as my first primary residence in the next 5 years.I have been analyzing local deals using the BP calculators, all of which leading to me thinking there is not a current future for me in my local market haha! 

Utilize VA Loan Guide, BP Calculators, and Contract Templates.Good luck!

However, these are the ones most commonly used:Five-of-Ten-Year Test: You must have materially participated in the activity for any five of the past ten years.500-Hour Test: You must have materially participated in the activity or activities for 500 hours in the current tax year.Step 3: Calculation your participation hoursEnsure you are tracking your participation hours.

(Full disclosure: almost always I used an agent.)Start by doing your first deal as an agent in order to get a better understanding of the business, then calculate your overhead/ operating expenses and you will quickly see what we’re all trying to tell you.