My background really comes more from construction and development in residential and retail construction.

Balance Sheet can show how much was a building was purchases for, how much principal loan is still outstanding, how much is in escrow and how much is in tenant security liability, Construction typically in the long-term development are put in the balance sheet and not P&L.Most investors are doing multiple type of real estate, not just rental.

You always invest in areas that support your thesis on the development going forward, not historical.Everything you've mentioned is how you're emotions work.

Meanwhile, in the 4 years in limbo massive redevelopment was occurring in the area, and we were offered an amount equal to our investment plus a reasonable profit by a developer.   

Before myself and a few other builder developers jumped in.. it was hard to sell anything in those blocks of town..

Quote from @Galant Ant: Permit delays in NY can derail timelines and budgets for developers and flippers.

Obviously the course designers have huge success in RE, but I am more interested in the course they developed and what I should expect to get out of it. 

Quote from @Galant Ant: Permit delays in NY can derail timelines and budgets for developers and flippers.

Land  Development and vertical construction are hands down the toughest loans to get..

I am putting together a pitch book for an $8M ground up self storage development.