One day I'll have to meet my maker  :)

Section 8 guarantees part of the rent, which is great for income stability, but the building will have regular inspections to meet Housing Quality Standards (HQS).

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

@Kishore Siva 100% go into their office and request a meeting to understand where they are in the review process, what questions they have, and outline a path to obtaining a permit.

You're likely better off attending your local REI meet-up to see if you can find an investor who has house-hacked or is currently house-hacking their primary home.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

If you cant meet GPH you need to sprinkler the houses so add 8 to 12k per track house to the build cost and oh by the way we need starter houses..

If you’re going to finance through a bank the property has to meet spec.1.  

If the owner does not meet that residency requirement, another human being must be identified as the local agent in charge.

And as an LP, I can do 75% of my due diligence from my desktop computer, the rest is going to the properties themselves, going to sponsor meetings, talking with other investors etc, which is a ton of fun. good luck :)