Problem is HOA is broke 53 delinquent owners owe us $300,000 an unpaid heating cost. $65000 in reserved 152 units.

I'll look for resources to help guide me on all elements required to develop a subdivision and get to work.

Do you get regular service cleaning by an AC and heating company?

I don't know exactly where your properties are, but the Dayton market is really heating up.

All units are separately metered for gas heat, hot water and electric.I've adjusted the numbers to take into account what's been said:- Increased mortgage to 5.75%- Increased vacancy to 5% - I don't know how to account for a one time renovation in the calculator so it feels high- Added a Management Fee of 10%The property now cash flows negative $137.15 - Here's the new report (w/o increased rents) Assuming an additional $1000/month for rent then that would bring me cash flow positive of $+592. 

You end up netting a profit with all 3 "spreads".Now I also use LC's,...sometimes as part of or instead of one of the elements of a SLO, but you are not limited to how many SLO you can do at one time based on available cash since, no matter how hard you try, you can't seem to spend any money. 

The bad news is that you're paying for your tenants to enjoy a heated pool.

It can get ugly.This element simply adds one additional layer to your due diligence when researching a syndication investment. 

I would move in the smaller unit that is being rented month to month, so this leaves me with $1,500 in rental incomeExpenses: I used 5% Vacancy since I would be living in a unit, I figured it was less likely of vacancy, 8% R&M, 8% CapexCap Rate: I estimate around 8%, it's about two blocks from the waterfront in an area that is improvingRecent work on house: MLS says "recent work gas heating unit and windows siding and roof"Based on the BP rental calculator my monthly cash flow while living in the unit will be ($558), after 1 year and I can move out cash flow looks like $310 for the two units. 

Insurance paid for a new roof after a hail storm, new AC unit and heat pump. pulled up carpet and refinished hardwood. paint and miner fixes.