That way if it goes over budget, you can rent it out to make up the money.

And you are continuing to invest in real estate a 1031 is a good option to explore. 

Seems like a very strict penalty if this is not followed through.The CTA provides that willfully reporting or attempting to report false or fraudulent beneficial ownership, or willfully failing to report or make updates to the reported data shall be punished with a civil penalty of up to $500/day while the violation continues (up to $10,000) and a criminal penalty of up to two years in prison. 

If there is a choice to be made, it comes down to what an investor "likes" or prefers about one over the other? 

This will show you that people have options to go out and pick another house over your place. 

As you mention, if you are using hard money yes you are paying more in interest and if you hvae the cash I would recommend using cash over hard money due to the high interest rate that you are paying.

Is the 11% equity from the appraisal over the sale price?

Our lease contains a clause stating that any unpaid debts will be turned over to a collection agency and the debt can be placed on their credit report.2.

Class C: These apartments are typically over 30 years old and are in fair to poor condition.

I've been strung along by them for over a year.