Going forward, the tax escrow component of your mortgage payment increased by $600. $300 is to escrow for the new annual tax bill, and another $300 is to repay the $3,600 shortage that the servicer paid on your behalf previously.

You'll want to collect research that goes far beyond the documents and reports provided by the sponsor.I'd work my way down this list when looking at the buildings: Specific to the properties: Acquisition Costs, Environmental Reports, Appraisals, Property Condition Reports, InspectionsBecause these are likely commercial properties, much of the value is connected to the tenant, so evaluating the tenant becomes crucial: Conditions of Leases (duration, escalations, extensions), Balance Sheets, Competitors, Historical Performances, Credit Scores, Macro TrendsLocal market factors that you are used to pulling: population density, population growth, unit type inventory and growth (multifamily), median income, etc...Financing terms: interest rate, principle paydown plan, cash sweep options...Offering model: management plan, operations, asset management, exit strategy.Sponsor track record: Every sponsor has a list of the previous offerings within the PPM.

Howerver, I have resrvations about how this will impact the community's living standards as the development will immediately border some neighborhoods and could bring unwanted environmental impacts and noise. 

The land is often far from urban areas where housing is needed most, and environmental concerns must be balanced.

Per square foot can only be used for a gut rehab in the same neighborhood with no structural or other environmental anomalies...so almost never.

Many alternative lenders have internal guidelines that prevent against lending on assets with any commercial components.

Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environmental reports, open permits, and the Certificate of Operations.2.Physical Property Due Diligence.

@Cody M.I would add a Phase I Environmental Site Assessment as a contingency to any offers on properties more susceptible to environmental issues (dry cleaners, gas stations, auto repair garages, etc.)

Don't worry about losing.That is likely not the only reason you are losing.We use this language for our clients, "Buyers agree to limit inspection repair requests to major structural, mechanical, plumbing, environmental, and safety issues."

@Zac Kucharek  I will focus on the asset protection component of your post since it appears to be the primary objective.