Looks like I played this correctly. 

@Mia Trasolini - most times when investing in a project investors will want that money recouped in a 3-5 year period (depending on criteria and also the cap rate plays a factor if multi-family). 

Just trying to level the playing field.

I like reposition plays for myself in strong markets.

I would call this a two play plan.

@Levi HuiIntent plays a huge factor when "dealer" status is concerned. 

I'm not lucky, my poker and roulette bankrolls will back me up on that. 

For example, here's the opinion from the legal department at the leading landlord association in California (CAA):Like I said, lots of things at play here, and these are just some of my own observations/opinions. 

= $324k  Ahhh so this is the assumptios that must play out for this to be a good deal, this rent raise and expense ratio actually being only 40% (this includes taxes and ins, turn over, maint).I've made much more money on SFRs....  

Your post is a bit confusing, are you going to purchase the property yourself then sell or are you looking at a way to play middle man without any financing?