Plenty of locals lost properties too, and I am guessing there were multiple factors at play there.

Have also developed a good relationship with bank over last few months.

@Brian Adzadi the 'house hack' method isn't an option for me unfortunately due to a few factors (beyond the terrible market for rentals where I live).

The contractor I spoke to stated his company has worked on several developments of this size.

I may have to meet the owners and just develop some relationships to see how they are getting the ones they own and if they’re interested in selling.

We are just speculating on the upward moving of this market because the house price keeps rising and there are organic factors that support it so in a moment we think negative cash flow can gradually be covered by picked up rising rental rate, but i guess its not financially sound on this deal

Gallinelli's advice about considering the time value of money seemed like a very important factor in determining the overall potential for earning a profit on an investment and I really wanted to understand how to figure that out.

The intersections of 423/380 and Preston/380 are both going to have massive commercial developments.  

@Randy Dickerhoff Your primary will definitely factor into the debt to income ratio.

HOA is $175 per month.This property is in a great location... located in a large urban park in a historic neighborhood currently undergoing serious gentrification (hundreds of millions in multiple residential/commercial  developments all over the neighborhood, both city and private money).