You'll need to check rents, operating expenses, soft costs (architecture/engineering), development impact fees, and financing costs.Getting land comparables is good, but you only have what other sites sold for, not necessarily that those sites sold with your zoning, land use, and density.

If you do follow this path, just be sure to have a firm and short deadline, and continue to work to get the eviction scheduled with the Sheriff in case the occupant is just burning time.

We also seem to have similar backgrounds as I have a mechanical design engineer background.

The seller's SOW didn't contemplate a new roof, an out-of-use pool in the backyard that neighbors had been using for burning trash and needed to be filled, exposed and out of code electrical, and a basement that had been dug up by the previous owner.

Keep it pink before you burn your time and money on that stuff.

Secondly, would keeping the SFRs take too much of your time up with managing a larger property and perhaps burn you out?

Many of us have been burned answering tons of questions from a newbie just to have them quit and vanish at the first sign of something difficult.

Hello my name is James Gleeson and I am an Engineering student at Missouri University of Science and Technology in Rolla MO.

Wouldn't be prudent to burn a wholesaler that got you a house.I also think it's an easier sell to the original seller, now you really are buying the house as opposed to the usual conversation of I may buy the house or sell the contract.  

So, don't work towards % cash flow returns as a starting point to analysis...start with an actual minimum dollar amount you need for cash flow and reverse engineer from there to a profile for properties that will deliver that bottom line.I will pay full price, 100% value, if I can get the minimum cash flow (in dollars) I need.