It helps to have another set of eyes on evaluating the deal since most of the lenders I've worked with won't lend on the project (because they want to protect their own investment) if they don't think it'll be a good deal for the buyer.  

You might also find these threads helpful on what to look out for when you're evaluating PMs. 

@Kyle PetersLeveraging equity in your first property can help grow your investments by evaluating appraisals, exploring financing options, and consulting professionals.

Evaluate and Negotiate: Assess property value and financials.

I am doing my own due diligence but would appreciate advice from others in the local area given all the new supply that has come on recently and still to come in the Nashville metro area.My understanding is that this submarket is not that affluent but there is a lot of development going on, is right “in the path of progress” and would offer an experience for Class A renters that is unique from all the downtown development.

However, before using your home equity as leverage, think about how it will affect your total financial condition and investigate the possibility of a higher appraised value after renovations.Speaking of which, it's imperative that you obtain a current appraisal in light of your recent progress.

Any updates on your progress?

This has to be evaluated case by case.

Need some help evaluating rentability of my condo (current primary home): 2Bed2Bath condo in Burlington, MA.

I'm looking to re-evaluate my approach.