This particular one doesn't fit that model but I'll do any deal that makes sense.

I live in NJ and am frustrated and tired of looking at properties in the local investing model.

I realize this model doesn't scale very well beyond more than a few houses at a time, and only a handful per year, but at this point in my life, I'm ok with that. 

When you do those interest calculations, you neglect that the 10 year note model costs you $72,000 over 10 years in potential cash flow (very simply multiplying current monthly loss times the number of payments, I understand that this is overly simplistic).

It just doesn't fit my business model.

I am practicing my financial modeling skills and reading up about real estate. 

It seems counter-intuitive and may be counter-intuitive, but if you think about building a scalable business model, this is one way to force that.

Also, when setting up a tenant, you can setup "custom fields" for their driver license #, SSN, vehicle model, move in / move out dates, etc. then generate a report with all that info.

Another $300 or so is needed for dirtwork prior to delivery. 

I would check out the Assist2Sell business model maybe?