I have been looking for jobs in project management as I feel with that type of job I will be exposed to all aspects of what it takes to build a home.

I have watched a bunch of the BP podcasts and have started using the analysis tool.

I am finishing up my 13th project right now. 

Always remember to do a math analysis on a prospective property and try to look at it before you make an offer or at least have a clause in the sales contract that will allow you some time (about 15 days) to make a detailed inspection on the subject property without a penalty that will hurt y'all.I am 59 years old and I found BP about a year ago and I have not decided what to do.  

I'm a financial planner by profession, I deal largely with company and state retirement plans and assisting clients with retirement funding analysis.

So to answer your question, yes your calculations (for a rough "back of napkin" analysis) are close enough to give you the right conclusion.

How did the project go?

(someone please, correct me because this is the way I understand it)Partnering with someone with money.Use your bank for a line of credit, which you will need to have a good credit score and a good salary to get qualified.Use hard money lenders (accepting their conditions but you need money to fill a gap since they do not finance you 100% of the project).Use crowdfunding money.Have cash of your own to finance a whole project.It doesn't matter what method of financing you use, knowing all the facts on a specific property will be required and the list is long beginning from the year built.

Typically Portfolio Lenders have a little bit more relaxed guidelines and care more about the feasibility of the project and potential rent assignments than the borrower.

Perform a quick cost analysis on the eviction process to see just how much it will cost you, then offer cash to prevent the time/revenue lost.