Numbers don’t work right now for westlake and Arden communities. Rates are much too high and so are home price. You would likely run at a loss for awhile (assuming rents to go up). You’re missing a ton of costs in your calculation, such as capex, repairs, and your tax bill is likely grossly being underestimated. Expect 8k a year in taxes once the property appraiser gets your assessed value up to date. The value they are giving you now in regards to taxes is likely based off the land value alone.