The cost was going to be $13,500 for the whole project, and the buyer nor the seller was willing to pay for it.

Ok so 1st get off the internet, waste of time 2ND, no demand for sec 8, (like I said get off the internet) MASSIVE demand.

One side is finished and has a long term tenant, however the other side is unfinished (other projects have taken priority).

We would financially not be able to complete the project. 

.* 1.5 miles away from the new billion dollar Inova Landmark project which will complete in 2028* The Duke Street corridor from Landmark to the King Street Metro Station has the highest ridership in the City and will be under construction in 2026How did you find this deal and how did you negotiate it?

Unfortunately for us in Jacksonville, demand was outpaced by supply because of the low cost of capital, and a huge surge in rent growth from 2020-2022 so the feasibility of everyone's projects looked great.

When a developer brings me into a project, we always have a due-diligence phase to vet the site and look for anything that may be a roadblock before the project fully moves forward. 

This place has been reviewed, passed inspection, and is just waiting for permission to move in so the lease can be signed and is sitting in purgatory.Each time we have inquired about why there are massive delays we are told that yet another administrator has left the department.

I think it can be profitable for seasoned real estate investors who have both the time and expertise to make sure their rehab project stays on budget, but I definitely wouldn’t recommend biting off more you can chew and doing BRRRR for your first deal.

I have other projects I am doing too, and understand the consequences of the engagement.