The language in the lease 'looks' pretty solid as well, but will let the experts weigh in on that.   

I’m eager to connect with fellow investors, agents, and local market experts who can offer insights and share experiences.I’m excited about building relationships within this community and would love to learn more about your perspectives on the market.

@Kieron Osullivan That was EXTREMELY helpful, thank you so much.

YET those are the people all the "experts" are telling you to chase.OK  so what does this translate to?

If that's not the monthly income, you are arriving at your cap rate by using incorrect expense ratios/expense figures and/or the property benefits from an extremely favorable tax abatement which skews the operating costs.

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants. 

For the few that understand this niche it can be extremely lucrative.Takes less money, less time and hassle, and there’s little competition.

I would also tell you to be extremely careful when doing contracts with builders. 

Hi---Great to hear you are connected with padsplit as they seem to be the experts in this space. 

If you can buy something habitable, and rehab it over time while you live there, that could be a home run of an investment when you look at your return on investment, especially if you house hack.Sure you may leave cash in the deal, but if you buy right, it could still be an extremely profitable and low-barrier to entry way to get into real estate.