I know it's hard to cash flow today, especially in the A neighborhoods, but would like to hear what you think.Thanks ground up. you can get a plot of land right now and put 60 units on, I can entitle land with that amount of money and 3x the value through entitlements and sell it shovel ready or bring it as equity so much value. condo entitlement or multifamily is what I'd recommend in miami Greenfield looks like the way to go on in expensive market .... if one can find the land. 

Unlike personal property, real estate also requires agreement on closing date, repairs, etc., so even if list price, cash is offered, another term might not work, so likely no way to hold a seller to sell until they actually sign an offer.

Some general themes or characteristics of super jumbo mortgage loans are: - Lower LTV's (Loan to value) depending on the strength of borrower and property type very large loans can require 30-40% down.

Investors do this to protect themselves in the event the note goes into default, they can avoid a judicial foreclose (expensive and time consuming) and just take the property back, and resell it.  

The DSCR product is a non-QM loan and will not be sold on the secondary market to Freddie or Fannie, so there are lenders that may will not require a seasoning period. 

Determine how much it will rent for, then deduct all your expenses.

Now a landlord (and architect), I wouldn't build out the space without the second stair since it really is a safety issue/liability (especially in case of a fire) if anything were to happen.Full excerpt of building code below:According to the Chicago building code on egress requirements, the third story above grade plane within a dwelling unit [which in this case is the duplex-up unit], all the following conditions must be met:1.) the building is equipped throughout with an automatic sprinkler system2.) the floor area of the story does not exceed 1600 sq ft3.) the dwelling unit has an exit that discharges directly to the exterior at the level of exit discharge.Your third story attic space is unlikely to exceed 1600 sq ft, but you'll probably find the sprinkler system to be cost-prohibitive.

I'm in the position to apply(depending on lender DTI requirement) for conventional financing through the builder at <6% interest rate in this current market.

I'm thinking of making the main requirement to live in the home be a master's degree.  

@Karim WahbaSetting up a fund vs syndication for flipping homes comes down to scale and structure.Syndication: Typically involves a single asset, which can be stupidly expensive in terms of cost/time for just one flip unless it's a high-value property.