Also deals this size take awhile to get to closing & like anything else the wrong clause or statement in the contract will kill the deal. 

You are completely wrong!

Study the PPM and offering materials....see how the projections meet the actual numbers and what went right or wrong. 

For now, there's nothing wrong with doing your homework but focus more of your time and energy on finding a quality property to purchase.

If I'm wrong, please, somebody correct me!

We have soil made up of mostly clay, rock, and some sand so digging footers or basement of any kind can dramatically drive up costs.

Real estate investments can be great so hopefully you can apply what you've learned here so that if you decide to try it again you'll get a better outcome.I think what may have went wrong here is you invested in real estate at the wrong time, and with the wrong operator (syndicator), and perhaps didn't have the expertise to sort either of those two factors out.  

Not sure how you have knowledge of wrong answers, what contracts are being used for subto etc if you aren't in the community.I'm not here to argue with you or anyone else.

HI Samuel,There is no right or wrong answer to your questions.

Here are a few common mistakes startups make when purchasing an investment property:They calculate expected annual gross income based on 100% occupancy rates.Poor property management results in tenant turnover.High vacancy rates cause lost rent.The local rental sector is experiencing a downturn.High maintenance or repair costs eat into profits.Getting rental rate wrong—either not charging enough or charging too much.Before selling your rental property, it’s crucial to determine the reasons for lost rental income.