My concern was small single person businesses are subject to robberies which occurred frequently in the area in the early 1980's.The building was built in 1890 and NYC established building codes in the 1920's, and someone owned it all the while passed and my dad offered to purchase it but was beaten to it by a flipper who got it for $23K, and he bought it from the flipper for $25K.

At that rate the investments cashflow nicely.One big concern in this model that some investors are still being talked into funding ground up construction.  

Not concerned at all.

I believe the risk of taking away less in our current market to be a concern.

Issue the loan to the borrower's entity (LLC).Either be available to receive a call or return the call as swiftly as possible when the borrower comes calling.Allow the borrower to have multiple open loans simultaneously (if all parties are comfortable with it) to help the borrower grow their business.Have loan products that help the borrower to expand their investing options in relation to ground-up construction and/or multifamily.Have staff that are knowledgeable to investing that can assist and understand the borrower's concerns or requests.Just a few that come to mind. 

First, look into the financial health of the Association.

Concerningly so.

I'm sure there's some anonimity on assets and he owns more than I know about, but he's never raised a concern with someone knowing about his projects. 

I am in Alaska, the dark winters just aren't manageable for me anymore so I decide for mental health reasons its best to relocate.

The transition into and out of LLC was my biggest concern because it might be viewed as a short holding period, but it seems to be fine.