Real Estate is still a foreign topic to me and am still trying to get a grasp of the lingo and mindset; but with reading and interacting on here, I hope to soon be on the track to becoming the financially free person that is promoted by BiggerPockets.

Before you have any further interaction with your tenant that could end up in court learn the regulations that govern your business.

Sooo after that longer than anticipated math problem you ended up losing $82,000 over the 15-year time period.

Sounds like people are already pricing properties a lot higher to meet anticipation and properties are going into multiples.Feels like a higher risk - reward type of investment as the rents and values had dropped significantly after the last big project there

Even though I don’t anticipate this happening because this is on good terms, I just want to be sure I’m covered.

You have an interesting interaction of business, tax, and family law.

For instance I asked multiple brokers what kind of vacancies I should anticipate in the market i'm investing in, and they all told me 1 month is more than enough, so i use 1 month (8.33%). 

I have done the numbers about 100 times, listened to every podcast I could find, but want to get even more eyes on this deal.The cost of the land, development and building will come to $700,000Annual rent income will be about $120,000/year.Taxes, Insurance and other expenses will about $20,000/yearSince it is a new building, we anticipate a cap rate of 8%So once full, as I understand it, the building is now worth $1,250,000 ($100,000 / 8%)As I understand, we can cash out REFI for say 70%, which would give us $875,000.This means we would now have $175,000 in additional funds to go do this again.Am I missing anything here ?

The house has dog poop all over and you're anticipating $4,800 in damages so I'm guessing you didn't inspect the place at all.Your questions demonstrate you don't have a fundamental understanding of the law or basic Landlord rights.

Here are mine:-I follow and interact on BP-I started this journey in my 20s-I have a wife who actively participates (and she's smart)-I have a good paying job (for now) that helps me saveWhat is your number one competitive advantage?!