Yes, 0 cash flow is a negative CoC return, but, if you're just paying costs to close the loan, you keep all your cash and put it somewhere else. 

As to the actual construction, time can be saved by ordering materials in advance and put in storage, having multiple crews going at once and having tight timelines. 

Put 15% down total PITI payment was $1,750.00.

I want to set up for a 1031 of a set of apartments that are in a trust and put new apartments into an LLC.

I am working toward my RE license and would like to begin as an agent by the end of the summer as a part time job along with my W2 so that I can put any income from that into paying down that HELOC and putting more cash aside for the next possible deal.I'd like to have 2-3 more rentals within the next 5 years so that I can transition from my W2 to full time real estate (is that realistic?

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

For extra formality, put it on a nice document with your letterhead.Re: Non-Binding Letter of Intent to Purchase Real Property Located at [Property Address]Dear [Recipient's Name]:This non-binding Letter of Intent ("LOI") is submitted by [Your Name] (the "Buyer") to [Recipient's Name] (the "Seller") with the intention of setting forth certain preliminary terms and conditions for the proposed acquisition of the real property located at [Property Address], inclusive of all improvements, appurtenances, and fixtures thereon (the "Property").Purchase PriceThe Buyer hereby proposes to purchase the Property for a total consideration of $[Amount] (the "Purchase Price"), which shall be subject to adjustment based on the results of the due diligence investigations and final negotiations.Earnest Money DepositContingent upon the execution of a definitive Purchase and Sale Agreement (the "PSA"), the Buyer shall deposit earnest money in the amount of $[Amount] (the "Earnest Money") into an escrow account designated by the mutual agreement of the parties.

So am putting together a great and trusted team to help me at Waco.

And if you have any suggestions/advice for someone who's just getting into house hacking please feel free to put them down.

Technically, missing the IRS deadline puts you in non-compliance with the tax law.