The end product is Landlord =Loser.

. $5,356 / $68k = 7.9% yield on costsIf cap rates on similar product in the area are equal to your yield then you didn't create any value for the effort and risk it took to develop from ground up.

@Steve Walczak - you're in New York - are you aware of products/programs that make sense here?

You will need a lender with a portfolio product for this type of loan or reach out to a broker who is approved with multiple lenders

@William ChrismanThat's hard to say, it really is location and product type specific.

The Eastman product is similiar.

Say they got a listing, move that product.

If it is set up that the client receives membership interest or shares in an entity that owns real estate then that would not qualify.The exception (sort of) to this are specifically syndicated products that are sold as securities and set up so that client does receive a tenant in common interest in the underlying real estate asset.  

You just have to know their products.

Hey BP, I am Juan Nunez currently living in Orange County NY.Back in 2007, my wife and I try getting into the REI, we started out forming a LLC, my wife got her Real Estate license but we didn't follow through with the investing. when I look back I would say it was because a lack of knowledge, fear and no direction.We are looking to find our niche in buy and hold, property management, looking forward to being a productive citizen in this BP community.Juan.