I would like to focus on SFR/MFR in markets with appreciation potential.

And you can get really lucky with market cycles and while you maybe let a couple million go from your profit there's still a lot of upside and developers could still make millions and call the project a win. 

I know the market pretty well and do most all repairs myself.

Matt, definitely add Detroit to your list of markets to check out.

off market single family with good zoning How did you finance this deal?

The Philly market is pretty good for these kinds of renovations. 

off market. self-representedd How did you finance this deal?

Welcome to A Skeptical Dude’s Take on Real Estate: a frank, hopefully insightful, dive into real estate and financial markets.

However, market manipulation has presented a couple of opportunities to me since 2009, so I've ended up with more than I expected. 

-At this $1M purchase price and the rents you expect, your money is better put in a money-market account that earns 5%+ on your cash/equity.