Purchased for $285,000All-In Final Costs Phases 1 AND 2: $375,000TOTAL: $660,000 Est ARV = $1.2 Million @ 5% CAP What was the outcome?

There is a matrix I like from Jeffery Norton that uses the ppsf method and I think that is a good place to start as he has the numbers updated for 2021....however, for my own comfort I want a few GCs to go boots on ground after I have locked in a property through a contingent offer.   

I am currently in the education phase of wholesaling so still have a lot to learn.

I think your best bet would be to talk to property managers that can offer the boots on ground perspective of their market.

Say you sell the ground and net $1,000,000 in the next 120 days Option 2 you develop yourself.  

PMs are for when you're seasoned  and in the preservation phase or out of area investing or if you always plan just to have a job and up to a handful of rentals to subsidize retirement. 

That said, my marriage has been on shaky ground and while I’m hopeful that we will continue to work things out, I’d like to continue to protect my (sizeable) proceeds from the first property as a separate asset in the event that things do go south. 

Purchase price: $36,000 Cash invested: $12,000 2 bed 1 bath ground floor condo.

They are all long-term tenants (20 years, 9 years, and 2 years) and it appears they keep the units and the grounds very well. 

If you want to understand the model better and you're starting at ground zero, the best advice I can provide is to start aggressively educating yourself.