I can only talk about our time lines.. quickest start to finish with shovel ready lots tends to be 9 months and longest about 18.. so if we get it done quicker than 12 of course that juices our APR substantially. 

Knock on wood ; drink leprecauhn juice from a horseshoe or whatever..So far my residents  (7 total) (south seattle ; burien)  are all current on rent.   

I don't see any builders budging the next 3 months because they're trying to get any juice they can before the real rough patch begins for new builds, new neighorhoods, new areas. 

Small operations generally lack the financial sophistication.Not saying a small broker or some syndicator type won't belly up and ensure everyone gets all the money they are due, one way or another.

Alfred Bell I believe it only applies to banks, so you're safe.....At least until they reclassify you as a bank via Basel IV!

You could also have a "belly" in your line causing stuff to pile up over time.So I agree with others that a camera inspection is the best approach and the best time to do it is when your toilet is removed to fix the wax seal problem.

Originally posted by @Bill Bell:"I have an up/down rental where the upstairs tenant is responsible for the electric bill."    

In your case Jon, what you could not forsee is that because of the recession most of those popular nightspots went belly up and this trendy area became a run of the mill neghborhood where the prices never really recover.

Is the juice worth the squeeze... ? 

Give us the juice because buying/owning apartment communities is a goal of mine.