Another key component is how long the ongoing construction will last?

You can certainly drill down much more by estimating the remaining useful life of the properties components, the replacement cost, and then budgeting each month.For example, if your roof has 5 years left of useful life and will cost $5k to replace, you need to put aside $84/month, just for the roof.Now do that for the furnace, water heater, carpet, windows, plumbing fixtures, etc.

If you're property is over 50 years old there is a greater chance of lead based paint and/or other environmentally hazard based chemicals in the house.

Of course, land cannot be depreciated, so you have to bifurcate your total acquisition cost between land and building and perhaps even into more components through what is known as cost segregation.

There is a new VA loan that offers a Rehab dollar component to it.

There is much more to be said as the economy has many components but I’m not trying to write a book right now.

One of the key components of Long Distance is you have to have good communication and systems in place so that everything runs smoothly when you're not around.

Have the property inspected by a professional to determine the condition of the property and the usable life expectancy of major components and appliances.  

Of course, the debt component will impact your cash flow and returns so bear this in mind.3) NNN leased real estate is a much lower return proposition and in my opinion is more of a capital preservation tool and/or passive income play than something to build tremendous wealth with.

Once the Market Analysis or BPO is completed you will be able to determine if the project is feasible-  and if it is, then you and your Project team can complete the Predevelopment Phase that will include architectural drawings, site plan, elevations, construction estimates, soils and environmental testing, just to  list a few.