Both of their run-up in prices are different.  03-09 lots of 100% finance loans, negative amortization loans, pure speculation, and low rents, lots of new construction. 

I would try to get permitting for 2-4 units if possible.2) New construction would run you about $165 sq/ft  in the area.Im looking at a new construction project for a 1300 sq ft sfh near 66th/westernif you need to tear down the existing structure may be more. 3) first steps is get architecture drawings, understand the utilities needed, then permitting.  

I have built and sold 38 new construction homes in the last 5 years but I have no desire to buy a distressed property and fix it up.

I'm not trying to pick apart your calculation but rather give you some constructive feedback. 

HUD yes section 8 yes  housing authorities run by cities yes.but who knows whats the jurisdiction what city and state.. maybe if you post those details someone can acutally answer you..right now with your post there are 50 states to choose from and a million cities need to narrow it down if you want any constructive feedback  :) 

I used a mixture of new construction type or replacement type in both single and double hung depending on the application of the window.

I have a 20 year construction background, so in addition to buying and holding properties, I am also very interested in the fix and flip. 

I am in the commercial construction business and am wanting to move into more full time work from home.   

You should move to a less expensive apartment, cut all unnecessary expenses to the bone and adopt a more frugal life style.

I am in the construction industry, i have renovated a few properties so that's not the issue.