Without factoring in (even an imaginary) 8-10% for PM, it's impossible to compare that investment to another investment like CD's, stocks, bonds, etc.

Or maybe bonds, which don't give you much of a return?

Your return on equity will end up so low that even the low return from bonds would be better. 

A lot of those are bond projects, some are in the middle of completion, a couple are proposed, and many are ready to get started. 

I'm supposed to close on a property next Thursday that went under contract June 1 and its been pulling teeth to get the seller to the closing table.

Do you use licensed and bonded contractors?

Here are just a couple of examples:Gresham Welcome Home - offers up to $40K in down payment assistanceOregon Bond w/ below market interest rate or cash grant for closing costs.Rate Advantage 6.125%, Cash Advantage 6.75% (also gives up to 3% of purchase price for closing costs).

If you also have to report to a bonding company, then you may need a financial statement review.

. - $500 (guess)Permits and required documentsApplication for Building Permit - $100 bond (refundable) + $90 permit feeUtility Shutoff Certificate - free?

Boston actually has enforcements with teeth.