Second biggest mistake is failing to realize these construction loans allow draws on improvements meaning cash expenditures are required before the first draw can be issued.

As others have said you WILL fail.

There are a lot of hotels right now that are failing and going under due to low cash flow -so its a failing hotel.

As we are working on our first development, which builds out a failed development from '08-09 and then expands into raw acreage beyond that, I am learning so much.

I can't help but feel that some of the failed programs might offer even better opportunities than the successful ones. 

It ultimately failed, so I started another one that also failed - ending with a partner than ran out of and stole money.

If he fails to pay the rent which is not a legal remedy, send him a Notice of Quit for Nonpayment advising that if not immediately cured, eviction proceedings will proceed.  

Even if they fail they can redirect some of their syndication course  revenues, right? 

That is an upfront game plan with numbers that should be somewhat fail proof if done correctly.Lastly dont forget that 85% of people who take out a HELOC end up doing a refinance within 3 years to consolidate into one loan. 

However, one side fails to realize that by artificially constraining the lot rent of a community, the owner is perpetuating the community’s eventual demise.