I think this project would be perfect for the  BRRRR strategy.

Here's my projections at $550/unitX9units https://www.biggerpockets.com/calculators/shared/670648/6652d312-c6e0-4ed9-ae1e-6c67df1426fc Since they are 1bd/1bath and the are is a "c" the turn over may be high. 

If you flip because you love the excitement of getting started on a new project only, go for it. 

Use consolidation and changing classes to end up with truly passive real estate investments like the DSTs that @Matt K. referenced or TIC projects - All passive. 

I'm confident it'd go for $1,650 under most circumstances, but I was not sure how much the school year starting would potentially delay renting it out.Even at $1,600, it'd still be above our initial projections and I'm anxious to get started on the next one once this ones finished up.

Here's my first project that I took on in the St Cloud Hospital area. https://www.biggerpockets.com/forums/522/topics/46...

I'm just curious about how to make this project work for me and my family. 

After finding out what it was the borrower/seller really wanted, I simply would give them cash for their equity and take over the house and the project.

If the projects goes south, I take possession of the property or get paid first if they sell it out right. 

I use spreadsheets to setup my initial budget developed during the purchase process and compare to actual cost to see how well I did and where I missed something and learn for next time.If you’re like me, and like to buy some items in bulk when you find a good deal, you can track your inventory as well and assign items to each project as you go.