@Tony SchmuckerFrom my experience of working with over 400 investors, your strategy to relocate, house hack, and transition properties to management is a strong, methodical approach.

You don't have anything to take I assume since you don't have anything to put into the project.

Quote from @LaShon Evans: I manage 400 rentals and own 33.

Make sure to prepare a professional proposal, highlight your STR track record, and be transparent with your financial projections.

Part of the investment thesis was getting it for a bargain, then building an ADU complex on it as affordably as possible, getting it to cash flow, and realizing value on both the rental income but also property appreciation given the work going into it.If the property will really only be worth ~$1.70M once we are finished, I will likely just stop the project now and exit the house as soon as possible.If you do not get dollar for dollar for projects such as this, how would house flipping ever work?

Campus housing has been under tremendous headwinds for the last 4 years.These properties were sold with extremely aggressively optimistic projections, as well as a price that represented a significant premium to fair market value.So sorry to hear about your investment.

Time is money, and SB-423 speeds up the permitting process, making it easier to get projects off the ground with reduced delays.Navigating Carlsbad’s ADU RegulationsUnderstanding Carlsbad’s ADU regulations and permitting procedures is essential for successful development.

Can you DIY projects and cost cuts? 

The reasons cited for the market not following suit this time are concerns that increasing GDP, especially in Q4 of 2024, and policy changes such as tariffs could lead to a resurgence of inflation and thus a change in the Fed’s projections, with there being 150bps of variance between certain Fed members projections (Source).

Reqauest a refund from them verbally and in writing and  continue to follow up and  go up the  management  chain if needed .