I specifically want to call out one of their Senior Accounts Associate, Charlotte Cunningham, who helped me through the process on my first purchase as I needed to buy a sizable amount of furniture quickly and she was able to help me make moves quickly...and didn't make me feel bad whatsoever when I pulled back a few items at the last minute I was able to find them cheaper elsewhere.

Am I underwriting conservatively, accounting for higher interest rates, inflation, and potential market softening?

However, I've learned a lot from that experience and am willing start over again- Make sure you stay on the top of them and fully account for the draws being taken as if they (Builder) have multiple projects I've seen where one individual's draw gets comingled with another property.

:Just found this thread here today and created an account to post.

@Hellen Sut in Michigan, once we have a money judgment, we try to garnish: wages, bank accounts and their state tax refund.

I took into account a likely cheaper labor rate but will say when we owned units in gulf shores that i was not encountering that low of a labor rate.  

Following this exchange, and after a few more callouts from Melanie, you appear to have downgraded your account on BiggerPockets, and gone inactive coming back only recently to respond to Melanie's post here. 

If your goal is to make money, and you aren't finding deals that you think will do that, there are other things you can do.But more directly to your comment: 1. cap rate does not take into account appreciation.  2.

You need to evaluate the HOA and its management, with a focus on the reserve account percentages.

@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant.