The "Initial Filing" is extremely important to get this right the 1st time as there are limited safe harbors for mistakes to avoid the penalties.

A2: No, for labor only.Q3: I paid my GC via Zelle and my lawyer by credit card.

Good idea or no?

If it's a good asset(meaning primarily good location), you eat the 5.3% cap no problem you own the physical asset.

I know I had no experience in MFR when I brokered my first deal and it was a 5 million dollar multi. 

Lots of depreciation you will pay no tax maybe even shield some W2 income.B.  8k maybe 10k if you pick the right guy to lend your money to in interest income you will be paying much higher tax rate on this income FYI no depreciation expense. 

If they are good, they don't have a problem finding work so doing your project at a deep discount makes no sense for them. 

1) They naively expected Class A results from the Class B/C/D property they bought.2) They didn't do enough market research to even know they bought a Class B/C/D property.3) They didn't do enough due diligence on the members of their team: agent, PMC, inspector, etc.

Texas added more new residents than any other state over the past year and now has a population of over 31 million people.
According to estimates released Dec. 19 by the U.S. Census Bureau, Texas added just under 563...

I'd likely just agree to break the lease with a couple months of rent as a penalty rather than force these people to continue being tenants in my property....you never know what will happen to the condition of the property.