I reviewed the SB9 legislation, and it states that properties occupied by a tenant in the last 3 years are excluded from SB9 but only if the project includes demolition or altering more than 25% of the exterior structural wall.

Finish the project, take great pictures and go live quickly. 

The contractor also committed to informing me and getting my approval for any cost changes during the project.

With just these numbers to go on, if I felt the neighborhood is solid/trending up and not down and assuming your rent projection is realistic, I'd buy it. 

The project was budget-conscious but impactful, ensuring the unit is ready for future renters.Reflecting on 2024: Wins, Challenges, and Lessons LearnedLooking back, my first year as a landlord was a crash course in property management.

i have done a few BRRRR projects. 

From there, it requires the ability to conduct underwriting the highest and best use of a planned project, which requires a pro forma built by the user or acquired from a competent 3rd party. 

We do not factor in capital gains tax in our final net profit projection Hope that helps!  

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.  

Do you have an excel spreadsheet with actual numbers and projections?