What I found was despite all the challenges, when you include debt pay-down I only "lost" $678.31 this month.

Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000 Lot 2: $307,000 Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value- $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation- $2,538 - Real Estate Transfer Taxes- $1,500 - Settlement Costs Paid at Closing______________________________________________ $234,212- $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcROI: 45.3%RoR: 68.9% PM: 30.07% Acquisition/Exit: 8 MonthsI've spoken to a few HM Lenders and ran rough numbers by them.

Now this does not include the costs to file the Bluesky Filings in each state so keep that in mind as well. 

The initial open house produced one applicant that chose a different unit during our screening process.  

Let me know your thoughtsI am pretty sure your cap rate would be 3.5 percent when you calculate correctly , and would achieve DsCR 1.0 only after 40 to 45% down including HOA cost and electricity.but is okay as long as you like to visit Disney it should be good ; for STR you have to calculate your happiness level as well , if you have kids or spouse that likes to go there , that would be the highest metric :) 

So, basically whatever income she has will be added up, including the capital gains, into that number. 

Same for any tax strategy that deals with capital gains, including installment sales and 1031 exchanges: they apply to rentals, not to flips.Despite the fact that you cannot put the entire amount into a retirement account, what would be the point of it even if you could?

There is also a huge difference between a DFPI license and position versus Loan officer including the pay rate.

I could use another set of boots on the ground to check out off-market deals, including taking pictures & videos, and would be happy to share my knowledge and processes with someone like you looking to add value there.Regardless, wish you the best of luck!

Although 580 is the minimum score for some programs, the higher your credit score the more opportunities you may have including lower downpayments (even $0 with down payment assistance) and a lower interest rate.