It can be bumpy in the early days and many a relationship has been strained in the process and some broken.

Just tighten up your budget and be smart about controlling your spending.

Investors who owned multiple condo units, were some of the first people to lose and walk away when the bubble popped, so the screws were tightened on financing to keep it from happening again.

Although I do think of the future I control what I can control, and if the margins you mentioned were to happen honestly I would deal with it at that point, but with tightening margins I suppose HM and PM lender int rates have and would have to continue to go down as well.

If this is your first time I recommend hiring someone with GC experience in your type of project to spec out the project and do a rough estimate that you can tighten up with bids from subcontractors and suppliers.

Lenders in my area are tightening up with FHA loans, at the moment, it is tough to get past under writing unless you own no property or are putting 20% down.  

It's putting a strain on the producers and giving the takers a false sense of reality. 

Honestly, the relationship my sis and I have is shaky and could be strained by working on a project together.We have to rent it out because we're losing money on the $250 HOA fee. 

Start reading everything you can on BP and soon you'll be able to really tighten up your questions.  

Well, as long as it's cashflow positive and doesn't put you under undue strain, I'd keep it.