It had the assumptions of the deal, the development budget, info on the historic tax credits, a proforma for the apartments, a proforma for the commercial space, info on the returns, etc.

With HOA and other expenses like insurance, taxes, it will generate around negative cash flow of around 700 dollars per month.

How do you effectively navigate property tax assessments and appeals to ensure accurate valuation and taxation?

So, if something goes wrong, now you've got a loan on your house that you may not be able to immediately payoff.As mentioned, don't forget about your taxes. 

Everyone has different thresholds of risk and understandings of the benefits of real estate, we can go down a rabbit hole around tax advantages.

To be honest, it should have been caught prior to closing as a PTF condition (prior to funding).

You're new mortgage, taxes, insurance, and hoa will equal $800, so you'll have a positive $200 cash flow each month.

Realty Transfer Tax. 

Look for any walls or areas of prior water issues, including the attic, roof, bathrooms.

I am still trying to learn the bookkeeping/accounting side of it so that my CPA won't scream at me come tax time!