Assuming you are keeping fairly apprised of debt options and interest rates, if the T12, cap rate is less than your interest rate, I would personally move on (exceptions apply if rents are several hundred behind market rates)These are three quick ones that shouldn't take more than 10, maybe 20 minutes to quickly determine and you don't even need a simple or complex excel model to complete.  

LP with a Canadian corporation or similar structures to help with liability and tax treatment, but it’s definitely something a cross-border CPA and tax attorney should guide because the filings and compliance can get complex pretty fast.

So renting defers taxes and creates write-offs now, but it doesn’t erase tax forever.The key tradeoff is this: sell now and potentially walk away with tax-free gains, or convert to rental, build long-term equity and cash flow, but deal with depreciation recapture and more complex taxes later.So before deciding, I’d run three numbers: estimated net sale proceeds after using the primary residence exclusion, projected rental cash flow after expenses, and long-term appreciation potential.

Is it mostly guideline complexity, income/docs calc, lender fit, pricing uncertainty, or just time?

Great question — and honestly, most frustration doesn’t come from the software itself.It usually comes from how it was set up (or not set up) in the beginning.I’ve seen people struggle with:Spreadsheets that get too complex or inconsistentQuickBooks that wasn’t configured for real estateStessa / Buildium not matching how they actually operateReports that don’t show property-level performance clearlyThe truth is, you can track rentals in:ExcelQuickBooks DesktopQuickBooks OnlineStessaBuildiumOr almost any accounting platformThe tool matters less than:Proper setup (chart of accounts structured correctly)Clear procedures (how and when you record transactions)A consistent system (monthly updates, document storage, property-level tracking)Personally, I like QuickBooks Online because it’s flexible and scalable, especially as portfolios grow.

Lower rates, easier approval, and fewer moving parts.Where people go wrong is trying to get too creative too early, HELOCs, partnerships, complex structures, before they’ve even done one deal.

Once you start stacking entities the operational complexity sneaks up fast.

Most people I think would've defaulted to the higher ARV option at $350k without really thinking through the extra renovation complexity and time cost.

If they're lumped, you may want a CPA familiar with IRC §168 to review your classifications before you file.a paid study makes sense when the cost is small relative to the benefit, and the benefit is high when your property basis is large or improvements are complex.

Go shop a couple of apartment complexes near your development and see their pricing and "specials".Check to make sure the builder and HOA allow rentals.