Building NEW multi family 25 unit

[Rick Hamilton]

What would you do?  I have the opportunity to develop/re-purpose my commercial retail store building into a 25 multi family. I have no experience with developing. The builders performa shows poor cash flow because of extensive new construction costs. (adding 2 floors complete re-purpose) The builder claims that the improvements will more than make up for the poor cash flow by improving the value of the property substantially. Should I view it as a large flip or view it from a cash flow basis? The builder and financier tell me that 1031 investors will jump at an investment like this in our city even with the poor cash flow.  Im 60 years old and counting on this for retirement. Thanks...