CHA even pays more for "targeted" areas. 

These homes are close to being taken by the county for back taxes.

Is it that the 1200/month original cash flow is now paying down the refi, and then tenants on the other 3 properties are paying down those loans?

I pay $100/month to have my pool maintained in Florida.

A more likely scenario is you will be a landlord with a tenant, and you will be responsible for the upkeep on the rental as well as your own unit Then when your renter moves out or you evict the renter for non payment of rent you will need to pay to have the unit turned unless you can do this type of work yourself.

Or when you say 100k .. do you mean investor has to basically pay cash for the lot and trust the home will be built etc etc.  

However, be aware that this might complicate things with the rehab and if you intend to claim tax benefits associated with rental properties.

I am looking into option what can i do at this point selling I dont think anyone would pay me this much since the value of the houses are slighly going down in NJ. what would be my options at this point? 

I make much more money buying the fixer upper (abandoned, condemned, unwanted) properties for a song and paying cash.

Thanks you for sharing.Question, as I pay down the principal on the entitlement, does that me the entitlement goes down too?