However the next aspect is your income issue potential so in order to tackle this one we'd have to know what your approximatel income figures are to see if you have enough to qualify for the full 175,000 price ( or loan amount after taking into account down payment).Some of that 2600 gross rental income might be able to be used to help you qualify for the property but only if this "property," has legal separate units (not one big SFR or house 1 unit, rather its 2-4 unit like duplex/triplex/fourplex).

Once you get a mortgage you can leave 20% equity and cash out $30K or sell for $50k gross profit.Build cost includes ALL costs. 

Q4 2022 was the best time to buy though, for example 3/1 in sunnyvale located next to google office listing for 999k, comp is 2Mil.Recently sold flipped in 95051 has gross profit of half million dollar just for 3/2 setup.Bay Area is the best market for everything for folks with strong business acumen, opportunity is everywhere.These homes are usually purchased long time ago and the current senior owner can't no longer maintain the house, the story is very similar from one to another.

I use the following criteria: Applicants minimum requirements Policy:Applicant’s gross monthly income must equal approximately three times or more the monthly rent.Applicants must be employed and be able to furnish acceptable proof of the required income.Applicants must have a credit score at or above 600.Applicants must have good references concerning rental payment, housekeeping, and property maintenance from all previous Landlords.Applicants do not have a history containing evictions.Applicants do not have a history with felony convictions.

You list gross sales of $150M.

And although I agree with how gas prices will effect me,  I do not think it will be a deal breaker. what everyone here fails to see is that with a budget of lets say 1.4million and I sell the home for 2.2 million and I do that twice thats gross 1.6mil profit and we should get 2.3 million and lets say I can only sell for 1.9 million (look at the comps) my soft costs are 60k+85k closing +140k interest =285k I would still net 214k per house....My point is, so long as I get it built I should profit .

Check the water quality before heading to slide rock (people can be gross), they have it posted on their website, but with the current pandemic it will probably be closed anyways.  

Last year I netted over 143k and grossed almost 400k.

You can deduct real estate losses against W-2 income provided your modified adjusted gross income (MAGI) is under $150,000.

The other issue is that these same tenants smoke, not on the property, but they put the butts in a can on the wooden porch and then dispose of them - gross really - anyway, Ontario is going the way of BC more and more - very tenant-friendly.