There are a few folks in this forum that may be willing to lead the way.

If there is equity in the property then there could potentially be another surplus which you are entitled to as well. 

And since the loans were not in their names and as you note Sellers did not know to ask for PG ( although in these cases PG is worthless) These folks walked and left the sellers in a very bad way..

Construction can have unforseen costs, construction loans for rounds of funding can be more expensive over time, rent markets can drop, vacancies in market can increase.Typically entitlement phase of land most risk, followed by development, followed by vacant building turn around, followed by half vacant building, followed by mainly full building with value add component, followed by brand new building with market or below in place rents and everything new with good location.Along that spectrum of course you go from heavy equity upside potential to mainly just the cash flow return and hopefully price appreciation over time.Investors have to decide on the spectrum of their risk assessment to capital over what period of time how they will allocate between all one type of investment or multiple and what percentages.

This will help you plug into the community and see when folks are talking about your local market. 

Keep practicing, ask lots of questions, and don't be afraid to reach out to folks who've been down that road.Looking forward to seeing how your journey unfolds!

I find as I finance BRRR folks and flippers over the years their estimated profits are normally very high and based on perfection.. 

So we make developing make sense for investors.We're also leveraging modular construction technology and standardizing traditional construction processes to develop faster and easier than ever before.Would love to connect with anyone curious about ADUs, permitting, SB9, the entitlement process for vacant land, or just residential investing in general!

I run a large group of Philly small landlords and see the big trouble folks run into only because they lack experience and a good coach if you can find one will help you avoid costly rookie mistakes.

I am really appreciating that folks like you are sharing their experiences and train of thoughts, which helps me tremendously to better position ourselves at this market.