Happy to answer any additional questions. 

With your extensive background in appraisals and commercial real estate, you're a fantastic addition to the community.

The price is posted, and it's the same with almost every other business.I would go online and do a rent comp analysis on what current market rents for your type unit are getting, and if you're afraid of losing them, then you can give them a discount.If a tenant has a larger space, more amenities, a parking space, then you can add additional rent.

In addition to the management fee and interest, you may encounter several other costs when securing a private loan.

Let me know if you have any additional questions!

There is also a long list of additional resources, abilities, networking, training, person shaping it unlocks that I personally believe is unmatched anywhere. 

Another important thing not mentioned is that you need to list your lender as "additional insured" on your insurance policy. 

However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

Perhaps hire the PM as a second set of eyes for quality control but that should be in addition to the GC you should hire from day one. 

In addition to appraisal/financing, I would also wonder if it's possible to get it insured (like, liability insurance for guest slips and falls).But instead of thinking about why it wouldn't work, think about how it could.