I think my main issue will be lack of prior new construction development experience but the pro forma is solid even when you stress test it for either low ADR and higher occupancy or vice versa. 

You also test your slab first to see if it is wicking moisture.

I know crime and drugs decreased dramatically in the area over the years.

@Kyle Hipp, I'm especially curious if you're running your AC a lot in your test, as we have the same weather.Our dehumidifer is Energy Star, and we water plants with our dehumidifier water to try and save a little, but would welcome not having to use it!

There is an interesting 10 questions quiz that I thought of sharing with you.So, if you have a few minutes, I challenge you to test your financial fitness as a current or future parent at the link below.http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/financial-fitness-quiz/article24937089/

I have a lot more field tested advice on how to be successful with lower income properties.

I have heard conflicting stories on how much it cost annually to be a agent after the completion of testing and acquiring a job. 

I make transfers between accounts as needed. 2 SFRs - one checking account for both the rent deposits and paying all expenses including mortgages connected to the same savings account above for reserves.The only reason I have the separate checking account for the SFRs is because my wife doesn't think the SFRs make money and doesn't really want me buying SFRs so its sort of a test to see/show her how well they cash flow.

During his visit he fully inspected the AC unit, testing air flow, inspecting coolant levels (which were found to be normal - the tenant had complained that coolant was leaking, that turned out to be condensation) and establishing that the unit is blowing cold air at a normal rate.

I have been working on my real estate license for a couple of months, and was able to pass the test 2 weeks ago.