It could be that the property wasn't built yet and it was a land purchase then the buyer bult the home. $5,000 is still pretty cheap for land though unless the land was bought long ago.

@Frankie Paterno In most places you will likely find that your $1.2MM will go much further with existing built as opposed to developing.

Basically almost all the items you mentioned when traveling can be written off to a certain extent.

When we built up the triplex, we set it up so that each of the 11 rooms can be rented out individually (all BR, except 2, have their own bathroom behind an electronically locked door).

You could also check what Realtors in your market are preferred agents here on BP- they should have at least a little experience with investing and a network built up. 

For example the first text on Goodin Development's web page says:"We build premium, market rate communities throughout Indiana and help busy professionals invest in real estate, without the hassle of having to analyze properties, manage tenants, or deal with any repairs."1) Where has Goodin Development built or are you building anything whatsoever?

Your renters will destroy these items and want you to replace them. 

I like using these for just this case.Another item to consider is since this is a 2nd floor I wouldn't be that worried since the 1st floor will heat the 2nd floor enough to not allow frozen pipes.I would also talk to an HVAC person because I believe they can also put a device to cycle the heat a few times a day or even put a secondary thermostat in the apt to take care of the minimum issues.I feel for you because otherwise you have a great tenant.

>I have heard wholesaling is tough but despite having less volume it has larger spreads in San DiegoI have never wholesaled but I suspect you have both items correct. 

In my area (near the beach) its mostly families and they want cabanas, baby items, chairs, coolers etc that we do not provide but I have a local vendor that delivers and picks up these items and charges a few dollars per day for each item, and give me a 20% referral.