I’m here to learn as much as possible, network with experienced investors and agents, and find business partners who share similar goals.

I've seen estimates of $200 to $400 per square foot for SoCal with $700 sq ft for something higher end and building up a hill and but possibly higher for San Francisco Bay Area (lhigher labor costs, etc.).  

Since my RE financing investor does the incentive of paying for the property, I want to make sure that my business partner is getting a great ROI in profits, so I want to make sure that money is working for the first investor making a deal with me in the smoothest way possible! 

At that time I'll attempt to structure a 10 year term unless I consider a shorter hold period in which I'll negotiate the lowest rate possible to fit a shorter term more closely matching my remaing hold timeline.

Hiring someone to do the work will likely cost too much (I would charge a small fortune, it's an incredible amount of work) and doing things as cheaply as possible will bite you in the *** later when you start having issues with your own shoddy work and/or materials.

That could possibly be preventing traffic.

Based on the design, I would go with sororities if possible.

Is it possible that at times you lose money (such as soft costs - paying for property inspections for example and the deal ends of falling through)?

I just want you to go into your investing as prepared as possible. 

GP is more important in many instances than the property and that is playing out big time right now.