The analogy I used recently was rolling dice. 

Any way you wish to look at it the commission is not all profit, there are all kinds of expenses to consider with it.Add to this, the marketing cost, MLS fees, lockbox fees, continuing education fees, etc...the average agent is NOT rolling in the dough!

Rather than put it all into one property, why not develop a plan to keep the funds rolling buying property after property and building a portfolio that will net you the largest return rather than going one and done?

Well, natually all work must cease, or a portion of it, til the problem can be ironed out.

That includes trenching for electrical lines, skim coating drywall, landscaping, and - yes - due diligence on new purchases.I don't know if that's a "mentor" or not, but I admire folks who roll up their sleeves and dive in.

This includes any principal payment (but not interest) and capital improvements (i.e. new roof).Here in Canada there would be a deemed disposition for tax purposes when the property ceases to be your primary residence.  

That's about what it costs to have a medium sized roll off delivered and picked up.

All of the infrastructure was done up front including electrical and plumbing to the area where the other 16 units would be going in.Here are the numbersAsking price 900K, (it was previously under contract for 800K)Monthly Rent Roll is $805010% estimating property management10% Vacancy(it has historically been closer to 6% in this area, but better safe than sorry)Insurance estimating $350.00 annually per unit7125.40 Annual property Taxes.All utilities are separately metered and paid for by the tenants10% maintenance5% CAPEX /Reserves- The first 8 units were constructed in early 2010 so I am not too worried about major CAPEX at this pointWhat else am I missing?

When people give me Zillow zestimates I just roll my eyes.

I am going in the other room to make the call please talk this over with your spouse when I am done.. then let me know Yes or no... and NO is OK it is OK to say No but if you know this is best thing then I expect to sign the contracts now and get this ball rolling.