You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

Variable cost and CapEx are where I see most investors make errors on their Pro Forma.  

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.

Definitely a strong location with great visibility and high foot traffic.Since it’s a NNN,  your expenses are minimal, but if LazyDog ever exits, buildout costs will depend on lease terms and the next tenant.

Using a HELOC to fund your first rental can be a great strategy, especially if you want to preserve your cash for other expenses or unexpected costs.

The end product will be great, as others have mentioned perhaps in other threads, Delta has not increased any of the cost, so there is still a huge equity upside.

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

Co-living will be necessary due to housing cost. 

Also you should inquire with insurance agents about the cost to insure.

Understand that the cost to the investor is only the cash that's out of pocket.