It will not cover foundation issues

They built a pole barn structure, air conditioned it, strung up some lights and trendy decor and host baby showers or weddings almost every weekend. 

Pace has built multiple income streams that appear to be helping investors, but are really designed to make money for him.

Second issue is that it would be really difficult to cash flow, while paying both notes, especially with one lender in second position (which would most likely have a higher rate, plus points to offset their risk.)Now if you got the property under contract for 75% of the market value, which means you would have built in equity, and willing to personally guarantee (full recourse) then yea it may work out.If it's a good enough deal then you could even bring in an equity partner. 50 percent of a great deal is better than 100% of no deal.Cheers! 

Like others, I am still learning and creating a foundation for my future but your story had me fired up to take action.

I smmsssuming vacancy is built into your $10kmonth.  

If you didn’t specifically advise on what to do, they drew it a specific way at the end of the day you approve the drawings to be built so it’s not their fault it appears and they should be compensated for the revisionIf it’s something they screwed up (does not appear to be case here) - then they correct their error

It's a great starter book for the financial foundations of real estate investing: https://store.biggerpockets.com/products/set-for-life-revise...I would also recommend Small and Mighty by Chad Carson: https://store.biggerpockets.com/products/small-and-mighty-re...Real Estate Rookie: https://store.biggerpockets.com/products/real-estate-rookieHouse Hacking: https://store.biggerpockets.com/products/the-house-hacking-s...

Focusing on the foundational basics and your operations is more important long term.   

It's a great starter book for the financial foundations of real estate investing: https://store.biggerpockets.com/products/set-for-life-revise...I would also recommend Small and Mighty by Chad Carson: https://store.biggerpockets.com/products/small-and-mighty-re...Real Estate Rookie: https://store.biggerpockets.com/products/real-estate-rookieHouse Hacking: https://store.biggerpockets.com/products/the-house-hacking-s...