It's essential for the property to maintain a DSCR Ratio of at least 1.0 across both notes.Considering the present market conditions, refinancing might be a more advantageous option for you.Please don't hesitate to direct message me if you'd like to discuss this further.Thanks,*

If the seller wasn't covering the commission from both sides, there would essentially be no buyer's agents at all. 

Cash reserves totaling 6 months (principle, interest, taxes and insurance [PITI])2.

I've essentially done all of your steps.

Having an operating agreement with protections for you are essential, and making sure to run good numbers and having a solid plan in place are what you'd need for this to work out.

Essentially, I'm not concerned about saturation levels, as nowhere in the world is everyone doing it in the most optimized way, with the top performing properties.

Essentially you are plugging in all of your data and they are using market price studied to generate your deductions.

It sounds like this person is essentially a general contractor or do you already have that role...in your case I would think your project manager would manage the GC (i.e, make sure they are on schedule, under budget, and quality is up to par). 

The opportunity should be relatively safe and probably more focused on principle retention than over the top gains. 

Considering the fact that you already have a lot of equity locked into MFH that's essentially sitting at ~5 caps, I would think about diversifying a little bit and try to pick up some decent quality C SF housing that is a gamble on appreciation but can have some stronger cash flow.