@Jim Stoffey  I do a little bit of this type of work... and from the Money's side of the table they are taking all the risk,, you simply risk time.. and if the deal is that great it will all work as long as you trust them to be fair and honest...

You have to make sure they do quality work and communicate well, otherwise you're held hostage. 

Due to the location (southern LA) the only property insurance I could obtain is through the state's FAIR plan, which does not include liability.

@Rob Ibarra Converting non restaurant space into restaurant space can be fairly costly from what I understand due to the need for larger than standard water lines to service the building and a general need for grease traps and other restaurant specific infrastructure.My first question around going from abandoned auto shop to kitchen is zoning, could you even get the use approved, and then are their any environmental factors in play? 

Their communication with investors is excellent.

Goodmorning Johana,Best bet is we refinance the note and see what kind of terms we can get going on this.Typically can close fairly quickly here in texas using hard money notes.

Especially considering that you seem fairly open to having the work done and even working the long term tenants & PM to keep the property in good condition, there is no reason your PM shouldn't be taking you up on that. 

We are looking forward to communicating with many of you and learning from any and all of the experience you are willing to share with us.

From the lender side, I'd say if you're getting delayed communicate early and often with your lender.

Fairly well read and open to partnerships/syndications/apartments.