That means that speed = cash, so identify the slowest moving parts of the project and do whatever you can to speed them up.Do your research on the neighborhood. 

Given the figures youre providing, youre probably getting hit with a restriction on LTV and loan size due to the debt service (or lack thereof).

I'm trying to see what are my options as to how could I structure a deal for the renovation of this project and the potential partnership when it’s completed .

A few things you may or may not have already thought of…Plenty of parking for all the tenants (figure 2 cars each) plus all patients?

The only figure I can’t determine is the monthly mortgage because interests fluctuate and the down payment.

Once you have that value then you can figure out whether the costs to redevelop are worth the effort.

just figured i would throw this out. 

This is where I would start if I were you—perhaps leveraging one of your existing properties.As a last resort, you could look for a partner willing to fund the project in exchange for a share of the equity.

I am trying to figure out what to do with this property and would love to hear your thoughts or ideas around this.The rent is below market but the apartments arent updated.Options:-We could keep the property and make the repairs, but would be at a loss for a couple years until rent covers expenses.

You must have excellent connections, industry knowledge, experience, and project management skills to achieve this outcome for those numbers.