If the developer doesn't deliver on time, there's usually a grace period and then there can be (hefty) penalties.

Or any tips for mitigating risks when market timing doesn’t align perfectly?

they will lose a ton of interest on 5.5% loan if we refi with someone else, but it would likely be 7% so its a lose-lose, they will lose our business and it could be in their favor to just drop the abusive term, ridiculous that a conventional loan doesn't let you keep the place after moving out. never saw that coming and this type of "pulling a fast one" is exactly why the other buyer who couldn't be present on closing specified that the power of attorney for signing closing documents was limited to exclude anything unnecessary. 

I've researched the 15/3 rule a bit and it doesn't look like it actually helps you if you are already paying the balance to zero each month.)By rewiring your brain to bi-weekly clearing of debt's (paying) it put's a persons mindset in a much better cash-flow management place.

Being nice to lazy investors, just rewards bad behavior and doesn't push them to be more resourceful - and hence more successful.It is a free country though, so best of luck with your approach:)

Doesn't have to be only LA, can be close by. 

They are also filled with newbies that just paid $10K for a course and the Days Inn from someone that doesn't, themselves, really know real estate...otherwise they wouldn't be teaching it, they would be doing it.

It's a great asset class but you also have to ensure you buy in a way that doesn't hurt you.

3.Zillow doesn't bring me any units, my realtor also doesn't have knowledge on multi family units, what are my other resources you would recommend?

As you know, most residential doesn't work on cap rates, but if you are in those MF like you have then this is applicable.