Ingrid,I would make sure you designate a spot in the front or back yard located away from the house.

The one you are most comfortable with.  

Without knowing more details about the specifics of the project being proposed as it relates to your property, it's hard to say if there are any obvious big red flags that could negatively impact your property's future value.That being said, I would try to find out as much information as possible about the new apartment building's design and layout - the two big things I would try to ascertain would be the location of the garage entrances/exits, as well as the location of any outdoor amenity spaces (pools, terraces, dog runs, etc).  

I have a comfort level for challenging projects.

So part of the question comes down to how comfortable are you being able to hold onto a zero / negative cash flow property.  

I, like many used to think “newbies” posted questions or asked for “help” to obtain the best advice from experienced investors, obtain guidance on strategic alternatives, or get a qualified opinion on whether the latest hot guru was worth the $40k price of admission.But, I was WRONG.No, none of those reasons are why newbies come to BP.They don’t want to find out that their “revelation” about how to invest has been tried about 10 million times - with limited successThey don’t want to learn that without capital, knowledge and experience their willingness to commit weekends is near uselessThey don’t want our opinion that they should skip trying to wholesale and spend some time learning as a licensed agentThey don’t want advice that has them taking classes at community colleges or learning real estate law, finance, or principles.So WHAT do they seek when they come to BPThey want comfort, encouragement. and to be told their thoughts are correct.

And the furniture needs to be changed out because it isn't comfortable or something like that.

Although I did learn a little and met some awesome folks I feel as though I learned more from this website and other free resources on the internet than I did from what I found to be an outdated home study course and this extremely high-level Three Day Seminar.The seminar I found to be 10% focused on education and 90% focused on selling the coaching programs that are designed and intended to guide the recipient to earn in upwards of $100k/ per annum in investing.   

That'll give a little more comfort and guidance.

He has bought the land and paid for design and survey work out of pocket.