Here are the factors to the equation.1.

These cost are going to very dependent on the area.If I was a betting man I'd say the zoning and permit cost will be more time and energy than financial, but should be taken into factor as holding cost will rise the longer the process takes.

I do feel bad for the role that I played in his week, but there are many other factors at play here.

Hi Apurva,53 units -- It would be smart to talk to an Architect who does multi-family (In your general area) about the cost of doing a restyle as well as colors.Especially if you choose a Hardie (Fiber Cement type) product.With Hardie (Type) products, read the upkeep instructions, some require re-applying the joint sealers (factor that into your maintenance budget).Also with Hardie (Type) products there is a service life to the color...some come pre-colored, some your contractors must paint on site, (some require priming of cuts when installed)---talk to the Architect about the maintenance schedule and the CAPEX for this.Hardie makes big sheets of this for multi-family that Architects can use for visual effect and ease of installation.With 53 units--springing for an Architect to help with this would be intelligent.Good Luck!

With that being said, I didn’t take into account the net worth factor so that is something to research for sure.

Aside from the expected higher interest rate when compared to conventional loans, are there other factors to consider when committing to a physician loan?

You never know who in your sphere of influence (friends, family, neighbors, coworkers, etc.) can help connect you with a potential mentor or other REI who can lead you in a positive direction.

These factors make South Carolina very appealing to out of state investors. 

The above calcs do not even factor in the higher tax expense as a result of the reassessment or other factors such as deferred maintenance, neighborhood, market.

My question is, how do you all factor in vacancy at time of purchase?