Wouldn't you end up paying more in interest payments down the line that would eat up cash flow, equity, and appreciation?

Those numbers you showed look very good for the contractor, but will severely eat into your profit, and perhaps cause you to not make any profit at all.

Also, the taxes on the house have increased and will be $5900, which would really eat into my cash flow unless I can protest at next opportunity.

and I had already assumed I was going to eat the several hundred $ of the water bill he never paid. 

A couple of them have HOA listed as a cost, and that's eating a lot into your margins.

I'd be eating extra cash until I build up the 20% to get PMI wiped away however - the R3 zoning is a huge oppty to get into this area with as it is a large plot of land for the area. 

That's what will eat you alive, I've seen it happen many times.  

Duvet covers can tend to take a real beating - people eat and drink in bed and spill things, they get washed often which causes them to fray and degrade, etc.

I will note we have a handful of clients in the business of setting up syndicates who have and plan to continue to set up QOZ funds that they are able to find ample funds for.Due to how the rules work / requirements, how it works for most people is they'll put their funds into a syndicate like entity - the amount of the gain deferral needs to be significant enough that you won't eat it up with compliance costs. 1) loss of control - many of them didn't want to make the jump from running their own investments/business, to giving up that control to a fund.

The 9% mandatory property management fee eat up a lot of your profit, so I give up all multi-family in Las Vegas.