Builders and institutional investors have responded with a number of build-to-lease projections throughout the area. 

2) Am I right in understanding that you can qualify a project by setting aside 20% of the units to be rented to people earning less than 50% of the AMI? 

And as rates, economic sentiment, politics and seasonality shift in the 3 to 6 months to get market ready it can change by 20- 50k so a little bit of Crystal ball is needed.Best of luck.

More than half of gripstrip/glue down failures happen after install where no roller was used at the end of the project.6) Improper spacing around obstructions - you can't install this without the manufacturer recommended gap. 

If sales prices in the local real estate market are increasing, as they are now in much of the country, there is less risk in taking on a project like this. 

I don't think appreciation gets that strong and I think your vacancies & maintenance will hurt you harder than projects.

I am not saying all smaller syndications are good places to park your money, and all larger syndications are bad but the smaller syndications who are in pursuit of the smaller checks are doing so because they are the only viable check writer for their projects, not the preferred check writer.

As of last week, our partner has given us $44,000 and additionally we have paid about $49,300 into this project.

Learning to manage the rehab project, scope of work, contractors, etc etc.

@Yixiong Pan, do you have experience managing rehab projects that are local to you?