You need to expect to put 50%+ down to break even on most properties around here though as the average 3 bed 2 bath is going for 1.2-1.3 million right now.

In this case they actually aren't breaking the lease. 

I put this into Google Sheets, and got 31.85%, whereas the book answer is 11.02%.

I put in a brand new side by side stainless steel refer into the new kitchen.

You will most likely pay more than market rate so take that into account.You will then have to get it all furnished which can cost a pretty penny.

This includes (but not limited to):-Quiet Hours-What spaces can and cannot be used-Guest policy (make sure to limit days in a row and in a month)-Pet policy (even if you don't allow pets, if someone has an ESA animal, it would be good to have guidelines in the event they surprise you with one, otherwise you are SOL and of course take into consideration fair housing laws)-How is trash put in the cans (in bags, not just thrown in) and when can trash cans be taken to the street and put back-How is the late free structured (one time flat fee or a daily fee)2.

You can always include the cost of the land into a construction loan but if you purchased it already it can play in your favor.At the bank we do all of the work you basically apply for the construction loan and the Building department along with processing sets up the entire process.

The challenge you typically run into with investment loans is lenders will require 20-25% down payment.

If I could break even cash flow to mortgage/expenses - I’d be happy in a market with appreciation.  

But, I never run into wholesalers anyway.