This is an industry where creativity is a key component in all aspects of how you approach your business.

I guess it is a number thing, which leads me to one last question (I promise not to bug you too much):  How do you allocate your time efficiently; is it heavily invested in crunching numbers and finding the right piece of property to invest in, or do you spend more time on the rehab component of the project itself?  

The strategy has been very good to me, and I'm a fan.Separate your construction costs into soft, horizontal and vertical components - soft for city fees, professional services , and holding/financing costs ... horizontal for any site prep, public improvements, and underground work ... vertical for foundation and everything on top of it. 

I will be self managing, and like most of my adventures, I tend to wade into things rather than jump, sometimes to my detriment.

The other is a stabilized cash flow opportunity in the suburbs.While location is a very strong component of real estate that always needs consideration, it is also one of many factors.  

My feeling on it is if you own the property, do what you want but there are complaints about the smell, there are multiple tents set up + the illegal component of making the wax too.   

@Bob RenthammerWhat do you see that could a causing a supply shock or may cause the gov to increase regulation/monetary policy to the detriment of growth? 

While these can sink a score so can foreclosures, short sales, medical debt and a three year old bankruptcy, which in my opinion, don't represent the same risk.Credit score is also only one of three critical components for verifying an applicant's tenancy.

So it seems that the missing components, which lead to the conflict of information, was the income level and RE Professional status. 

The reason I ask is, what if you started non-renewing the Sec 8....granted you lose that "guaranteed rent" (heh, ask me about THAT sometime), but if you can get it up to market rent gradually while reducing expenses, this deal may still work.3) Cash flow & NOI are key components that determine the market value of multi-unit/commercial property.