Best of luck with your project!

I’ll also amortize large items like roof over 20 yrs, and then add $100/mo/unit for general repairs.

Great projections!

Curious, did you ever start your project? 

I manage hundreds of rentals and most of them are caulked every 5 - 10 years.DR Horton was the builder, and after we did two inspections and closed on the house, we found out that a good chunk of the roof was missing - they quickly finished the roofing. 

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

First thing I notice is the big jump in ARV from the Total Project Costs.

@Damien Davis you'll make less on the initial projects but the experience you'll gain will be completely worth it.

If I had not been, then I would have a lot of projects only half completed and a lot of investors very angry with me. 

Sounds like an interesting project but I am sure there is more to the story.