“Josh, I feel you on this one—it’s a tough spot to be in, but let me tell you, these situations are where the real players in this game prove their mettle.

I would like to be prepared for a larger multifamily project. 

There are a multitude of roles, stages, and responsibilities for each and every unique project.

How did they perform versus projections?

Just seems to reflect the reality of generally tight market conditions across most of the U.S. currently, tough to find higher returns.

Came up with a little mental "que" or montra if you will the other day while driving to help me through those tough mental days, and wanted to share...."

The entire project took around 3 months with EVERY square in minus the electrical( some added) being gutted and renewed.

And if they are a hobbyist/part-time builder, then they should engage the proper professionals, i.e. a title officer, civil engineer, architect, contractor et al to assist in reviewing the project's feasibility.

we did that except instead of renovating it we knocked the existing home down and built a new primary. right after we were completed we had $500k in equity as we acted as the GC on the project. 

One alternative planning approach is called a Lazy 1031 Exchange, but getting the timing right on this can sometimes be tough.