We honestly try to stay away from the takeover because it almost ALWAYS still costs more than we expected. 

Since it's your first purchase it could take longer than expected to fill the vacancy, or remove an unwilling tenant as you learn the ropes.- chatgpt or any other LLM is a great starting point for learning your local laws around raising the rent, just make sure to ask for sources and direct quotes (this helps with hallucinations), then verify- what's your long term goal for the property?

What do you expect?

Here in Cincinnati, prices have steadily rose and I expect that to continue.

During construction do you pay interest only payments or do you pay towards the expected construction cost?

Those factors can affect your numbers more than people expect. 

Many jump into that with high expectations 

We do this as his 2 - 4 hour inspection is thorough and it’s more time than we could expect our GC to spend.  

I heard from an investor this week in the Sarasota area that had his appraisal come in lower than expected on his BRRRR.DSCR doesn't need the borrower's personal income.

In simple terms: Total project cost (land + construction + financing + holding + selling)should usually be ≤70–75% of expected retail value.