If the downpayment + closing cost is free, and you are doing a triple net lease to keep any repairs on the tenant in the next ten years, it may be worth the trouble.

However, just when I THOUGHT I DID, often something happened totally out of left field that wrecked havoc on my predictions and analysis.  

My estimate is you could get a total of 250 units on the same land with modern designing.

I am saying that your monthly heloc cost looks way too high if you look at the total amount borrow and your rate your monthly payment should be much lower on the heloc. 

I often buy using Subject To to buy properties. If you choose to use this technique these are some of the Pitfalls to watch out for. You can build a very strong portfolio, if you take proper precautions.
Subject To P...

The bookkeeping software is currently free of charge and connects to other banks / credit cards or you can choose to bank with them, which is what I'm doing. 

If you DO NOT have a pet/animal, you STILL must complete your Pet Screening profile as "No Pet or Animals" which will be free of charge to you. 

Feel free to reach out if you have any questions!

It has nothing to do with how good they are but might be an indicator that they are running a good business where they get to pick their clients.I have seen many reviews or burn posts here totally messing up a firms reputation where it did not seem the vendor did anything wrong and that it was mostly a highly picky client.

You mention the acquisition costs are $1M and the construction costs are $1M and total costs are $2M.