I'm sure my cash flow could vary based on the loan I would receive since I could use a first time home buyer loan but lets assume that I use a 30 year fixed FHA mortgage at 7%. 

If you're looking to build your own, you also should build your own comp base.

Usually it's because there is lake water or drinking water or groundwater degraded that can be contaminated by septic or your project. 

It has been recently introduced and is supposed to put a cap on the cost to install utility hook ups for new construction and ban hedge funds and corporate entities from buying single family homes in California):SB 1210"This bill would, for new housing construction, prohibit a connection, capacity, or other point of connection charge from a public utility, as defined, or a special district, as defined, for electrical, gas, sewer, or water service from exceeding 1% of the reported building permit value of that housing unit.

I just purchased my first property in Forth Worth to flip and I am based in Houston.

We take this to mean (based on 100s of real tax court cases) any activities integral to the business of running a rental.

Thanks Jay...and likewise with seeing you and Chris still offering assistance in these murky waters!

I strongly recommend not getting a refrigerator with a water hookup they often leak and damage the floor or the downstairs unit or attract mice to the source of water.

I recommend investing near economic bases near downtown and surrounding areas.

You have to calculate based on a more than a few things like loan amount, down payment, taxes, Insurance, (Any HOA) PMI, based on credit, etc.If you are 1099 the Bank can look at the most recent 1099/Schedule C if you have been in business for 5 years or more with a 25% ownership in company or more.