I suspect they will be highly sensitive to that.

High LTV purchased at retail (off mls) has large initial negative cash flow- regulations are tenant friendly.  

Existing deals will instead be saved by NOI growth driven by rent growth--if you have the staying power to hold on long enough.Supply:  High deliveries remain today mostly because of "hang over" from projects that are taking longer to complete than developers (and industry analysts) expected. 

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

When is the last time you did a walk-thru (highly recommend taking a video!)?

@Calvin Thomas would you do $100 cashflow if it was a high appreciation low vacancy market?

Our project management kept everything on schedule, making the property highly attractive to buyers.

From what I read in Bloomberg, delays in high-demand areas have gone up significantly in the past year.

My W2 works me until the night and doesn't pay me well or high enough. 

With two UCC filings from two lenders (there could be more), they're borrowing money against their accounts receivable at a high interest rate, and he believes it's very likely they will default.