In fairness, that could be due to disruption from all of the construction.Our current PM has done a good job maintaining the property, but more and more I find myself having to get involved in day to day issues. 

For future reference, the agencies will often adjust LTV/DCR by -5% LTV / -.05x DCR for loans involving new agency borrowers with minimal experience / like size AUM / etc. 

I highly recommend getting involved locally.

Is there a way to separate from them legally without getting a lawyer involved? 

When looking for that kind of cash-flow it will be strategic to start looking at other markets and start learning about long distance investing. 

One that involved firing their entire field operations team, which I thought was key to their success.

We keep everyone in the loop all throughout the process.To stay on track, we maintain a comprehensive checklist that covers all the tasks involved in closing a deal.

-------------------------------------------I am involved in a construction project which requires a Builder’s Risk policy/coverage…something off the beaten track for most people.

If you're looking at this from a distance, connecting with a local property manager could give you a clearer picture of what to expect in terms of tenant demand and property management challenges.Let me know if you need any more info or want to chat further about this.I hope that helps

Should have done more digging up front on everyone involved in the deal, not just the managing GP.