Is the complex 51% owners, no lawsuits, master insurance policy is sufficient, HOA has reserves in the bank? 

A simple spreadsheet should be sufficient for most people until you have too many properties and it becomes time consuming to track.

The property management software out there hasn't been sufficient on the accounting side (i.e.

I know that Michigan isn't my final destination, however it is a place for me to invest sufficient time to build a portfolio of assets.

We can look into this for you and give you some pointers but the best place to start would be to figure out what the current DTI is at this moment and what is needed to get the loan sizing that is large enough to encompass your entire build out on this raw lot and then work backwards to see if the income is sufficient or how to make it work.There might be a financing solution for the above once we get a bit more information.

Structure to purchase a land with sufficient time to get all approvals in place prior to closing.

It doesn’t matter how many other mtgs you have, you can get an fha loan as long as 1)you will occupy for at least a year 2) you don’t already have an fha loan (with a few exceptions 3) you can qualify and the property meets the self sufficiency rule.

How best to formulate the deal that will give us sufficient time to find the new property in the current environment.

Given the current political climate, if you close on the deal, do you have sufficient reserves to carry the property if neither tenant pays rent?

It gets old and tired when you are constantly reading about the dreaded horror stories of Detroit - but, in the same token everyone wants to know 'where to get a good bargin'.