Of course, I could very well be missing important factors or confused about the whole thing.Thank you!

I.e. land costs $50k, construction costs $600k (I am making up numbers) including builders fee.  

The only factor that i think A.I. is good is for is follow-ups.

I was told my legal fees would be around $700 dollars and the appraisal is costing me $550. 

Find deal -> sign contract -> market contract w/ your fee -> find buyer -> assign contract/close. 

On the other hand, employing the on-site manager through a property management company reduces your administrative burdens and leverages their expertise, yet it may entail less control and additional fees.

Do property managers charge different fees for section 8 properties?

The downside is that I have to put in $480,000 Dollars of TI and brokerage fees, but the upside is that they will be putting in 1.5 million to redesign and improve the existing structure. 10 years from now I might have to go through the same thing, but I wanted to give you an example of how things can go wrong at the end of these leases.  

Andrew - I think you've accounted for a majority of your costs, but just a few others to consider include: vacancy factor (typically 5%), turn/over or releasing expenses, and property management fees (7-10%)  - whether you pay someone else or do that yourself you might want to include in your calculation.

You might want to consult with a real estate attorney or financial advisor who can provide personalized advice based on your specific situation and objectives.Overall, while there are advantages to holding properties in an LLC, there are also considerations to take into account regarding financing and other factors.