We already have a tenant placement process that is more stringent than many landlords as we're fully aware that it's probably the single most important aspect of a profitable rental business.

If you implement other ideas, I would love to hear them.Also, I assume that you hold the property for at least 12 months to avoid longer term cap gains, but given the size of the project, my guess is it would be hard to finish and rent it in any less time.  

nowadays investors tend to implement the GAMBLE factor of:1.

I truly believe it helps to have a mentor when implementing the knowledge you learn as real estate has so many variables and just like a lot of money can be made in a deal also a lot can be lost.

It's more about what to expect, the good and the bad.Our C/D class tenants are "needier," but we're very upfront with everyone about what is expected and we have a stringent screening process, to the point that when they do get the place, they are thankful for it.

The 5 star reviews that have consistently been generated since we implemented these things have been impressive.

I will try to implement the same in my deal analysis.

How would you invest that $30K and what strategy would you implement?

Insurance - ValuePenguinRent control - Some states and metro areas have implemented various kinds of rent control.

You're going to pay higher than normal rates because of the less stringent requirements when it comes to these loans.