On that scale we have a range of properties in our portfolio, even though I have started to trade out properties from the lower end back in 2014/2015, and some cashflow a little better - however, when you look at the total financial picture there is a lot more than cash flow: obviously appreciation, but also principal pay down, turn over rate and soft factors like tenant quality and with that turnover cost.RE's primary superpower is equity, cash flow is secondary.

We have credit scores over 730 and have been "soft approved" for around $750k. 

I think it has a soft cap; therefore wages and/prices will have to behave. 

A total cost of 6.3Mn over 23 units equates to 274K/unit...this appears unbelievably low for San Diego...I'd want to see full development budget detailing hard, soft and financing costs as well as month by month projections showing construction and lease up cash flows.What's the 2.2Mn purchase price for?

You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist). 

Beyond a management software you may be just dealing with soft processes or in others words, “this is just the way we do it.”I hope this is helpful and gives some context as you look into this further.

By way of example, a lender may charge retainage, only release soft costs upon C/O, may limit loans to a set number of draws or only allow draws once a certain dollar amount of work has been completed.

Since you have bought a foreclosure before, at least you have experience with the liens and the process, but you won't get a final tally of the liens unless you can get your title company to run soft title search for these things in advance.Closing on a foreclosure anywhere in Brooklyn seems like a nightmare to me from an operational end.

I'm going to get a survey regardless, but I'd like to line all this up before I start spending on soft costs.The weird thing is I see other investors doing these DADU deals and I've never heard anything mention the above requirements / scenario. 

Also, I'm not sure if you are demoing an existing structure, if the structure is freestanding, etc, but this will obviously greatly affect your overall budget.For our project, most of the material prices are in line with expectations, but where we've been shocked with recent increases is the soft cost.