My guess would be if you recalculated assuming $24k cash down and a mortgage of $96k your cashflow numbers would improve.

The formula in cell H9 (Cash Outlay) is =H5+D6+D7 which equates to Down Pymt + Improvements + Closing Costs.

Undervalued property with little value adds available, but the lender wants 20% skin so they won't refi unless "verifiable improvements" have been made. 

What happens if a buyer defaults on a seller financing deal after they have already made improvements to the land?

What happens if a buyer defaults on a seller financing deal after they have already made improvements to the land?

What happens if a buyer defaults on a seller financing deal after they have already made improvements to the land?

Also benefit from the tax advantages, improvements costs, asset protection, and start depreciation now?

If and when the new construction starts improve, the market will change.

I've been wonderfully distracted, but have started to refocus:  I've registered for real estate sales classes next month, and look forward to connecting with new people on here.I feel like I'm all over the place because now that we've settled into our little house, made a number of improvements to it, we're in a position where we have over $150k in equity in the house, and real estate investing is slowly coming back into focus for me.  2 years ago, primarily out of frustration for not being able to find a primary residence, I stumbled onto Bigger Pockets and found myself looking at distressed properties and making offers on houses to flip... until I found a residence suitable for my family.  

This is for the construction, improvement or purchase of rental housing for low-income families, the elderly and disabled individuals.