Or a $500K property with a rehab budget of $200K and $35K for carrying costs and an ARV of $1M.

Looking at April 2022, the Federal Funds effective rate was 0.33% while mortgage rates were about 4.75%.

I got a structural engineer to look at the house and he said I would need to take out the floors from the top down redoing all the floors and most of the crawlspace and that would likely cost about 20k.

Take the selling price $750k, deduct selling costs ($50k?)

I have been trying to gather as much information as possible and make sure that I don't make any costly mistakes right off the bat.

I have qualified dividend income from several of these and the legislation I've seen effectively say that 'income from a K1 is viewed as qualified income'. 

Not a high cost of debt/capital at all, so we are not concerned about the balloon payment.Regarding long term goals, we plan on building slow and steady over the next 10 years, but then have them all paid off within about 20 years for retirement income from the rentals.

We're also getting some pretty sweet deals on new construction with closing cost incentives.

I realize the cost may fluctuate as time goes by. 

Hello, I currently operate a rooming house, and the insurance cost is going up every year, and it is getting ridiculous.