You're trading high growth/stability for lack of cash flow.2.

By definition, these type of loans are not the same quality as what is traded on wall street. 

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

Now were back to a mare normal world where a person has to have that skill of forecasting, analysis, ability to "read the tea leaves" for where it's all going and if todays acquisition makes sense. 

We are both 28 years old with zero experience prior to getting involved, she works for the business now and I work Blue Collar in the trades. 

Development has different risk profiles and longer timelines BUT when you have the right team working together and you build a pipeline of projects it can be very financially rewarding without trading your time for dollars.

Find out why, see if you can learn/hire to fix that problem, and you might have found your niche.Do you know anyone or have a family member that is licensed in one of the trades? 

Mom is a real estate agent and dad knows the trades.

And remember, the Federal Trade Commission warns against pay up front loans:  https://www.consumer.ftc.gov/a...Lendbase is able to skirt around this by claiming that they are just a "broker" and not the actual lender.  

You could try to value it with the income approach, with NOI & DSCR, but that usually isn't done with smaller multifamily.You're going to have to extrapolate out farther and see where other smaller multifamilies have traded.