@Yaroslav Shtogun assuming this is something you can tackle yourself and with your network doing the full deal would be an awesome project for you!

The reasons cited for the market not following suit this time are concerns that increasing GDP, especially in Q4 of 2024, and policy changes such as tariffs could lead to a resurgence of inflation and thus a change in the Fed’s projections, with there being 150bps of variance between certain Fed members projections (Source).

Plus, it would be a first renovation project, and other properties we may be able to close on are huge projects.

An owner can challenge the number of hours their PMC bills them for a project though.2) Contracting every job out, but the bids aren't shared and owner just gets a bill on PMC letterhead covering labor & materials, with little detail.This is a pretty difficult situation to understand the charges, so you can monitor them. - The smaller the job, the easier to understand using the material & labor steps above.- Larger jobs may require requests for more detail, so the above steps can be applied.Be sure to check your management contract for what you agreed to.

I grew up in the real estate industry watching my father raise money with a PPM for large multifamily value add projects and a developments.

So my patience is wearing THIN on the Bennah Oaks Ocala project. 

. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

Welcome to BP and good luck with your project!

Yes, distributions have been below expectations and way below NOI projections.