The Greek are now stuck in generational debt slavery with no option for bankruptcy because European bankers in 2008 didn't want to take the hit they deserved for making bad loans and passed the buck to the citizens of the countries they were based in.I do not think national banks big enough to do thinks like this really make contributions to the societies they prey on that counterbalance the damage that they routinely do.

Don’t use online resources as a primary source of data to base your decision making on when investing in RE.

Since this is a single-asset based project, the risk/reward ratios are higher. 

I believe @Michael Plaks is based out of Houston and is very active on the forum with answering/helping with tax questions.For CPAs, I'd recommend prioritizing someone who is an expert in real estate over someone local (and if you find one that's both- great!).

They can likely give you comps for what is currently selling based on your specs

View report*This link comes directly from our calculators, based on information input by the member who posted.My capital expenditures seems quite a bit low.

You should never base anything on this estimate. 

View report*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.

The 1% rule really doesn't apply here in California as we're more of an appreciation-based state.If you're willing to wait to see the returns until you sell, we've probably still got several years of solid appreciation in Sacramento / Stockton areas because of all the Bay Area migration into the Central Valley.