I am above 50% on standard Visa/MC, below 50% on Amex, and about 0% with anything that is like a local credit unions. 

I understand this can take a very long time.... 

It gives you better control over the process and helps you really understand the market.

Tell her to talk to her managing broker about it if she doesn't understand.  

Seems like the few people I talked to that are selling land in Florida are trying to sell it above retail without understanding that most of their potential buyers are going to be builders. do Not buy land in FLA without doing full due diligence  on all aspects . there are environmental gotchas that you need to fully suss out prior to waiving due diligence

I'm getting a contractor/ structural engineer to come by and help me draw estimates and understand how serious these issues are.

A bit strange that you leased the commercial spaces knowing you would be pursuing a conversion but understand the objective of taking out your capital partner and I see in your follow up post the relocation language so you clearly thought through the transitional phase.

I don’t understand why people do syndications  We can make more money using lenders.  

I haven't reviewed the Standard Lease Agreement yet, but all I need is the right to sublet, and possibly some negotiated capital responsibilities (owner pays for repairs over a certain amount or split responsibilities on certain expenses).

Lots of money made here, but lots of money also gets lost here by out of state investors who don't understand what it is that they are buying.