I’m factoring $20,000 out of pocket for this deal; however, since it’s rented through March 2019 the “rehab” money I’m noting ($4,000) shouldn’t be needed until first tenant turnover.

There are many factors to consider alongside cashflow, such as the investment amount (would a $2 million dollar property cash flowing 200$ a month be suitable for you?)

(Cash flows around $160 factoring including loan payment, insurance, property taxes, 5% vacancy expense, and 15% of rent for CapEx and Repairs.

So they're gonna sell for 140k and make at best 5k, not factoring in holding and closing costs. 

I want the neighbors to voice their concerns and show them how the design evolves with their input. 

In todays environment the risk is no longer mitigated by those rapid equity building factors, the strategy turns investors into gamblers.

I'm aware there are going to be some surprises, but I just want to factor in as many surprises as possible even with the budget, then have a surprise budget on top of that. 

I was intrigued by the topic of "opportunity zones" discussed on the BP Podcast episode 269 (the one about RE & taxes).As I understand it, it seems almost like a "1031 exchange" type of investment vehicle but rather than property<>property, you could use other equity assets like stocks or mutual funds to invest in designated opportunity zones in low income neighborhoods via opportunity zone funds.

I knew this before I bought it so I factored that into my purchase price. 

Once you take money out, though, or even if you plan to use the HELOC for a down payment, then the lender will factor what your payment to the HELOC will be in determining your DTI.