We are tending to be more conservative there to protect ourselves from any big misses. 

So being conservative we would say you gain $46k in equity ($1.15m times 4%) plus cash flow (which I would argue is basically nothing after vacancy, repairs, capex) plus principle portion of debt pay down (you’ll have to look at your statements and figure this out).

I would like more frank communication.My other syndications appear to be doing fine but one was a conservative offering (lower risk but also lower upside).  

We leverage Airdna and Airbtics data and I personally recomend looking at every data source humanly possible and plugging in your best estimates for conservative, ok, good, and best as well as your best possible estimates for expenses in order to really get a firm grasp of the potential profit. 

Federal along with state chartered credit  unions that are not permitted to charge prepayment penalties are also competitive right now on rate and more and more are building out construction platforms, although very conservative on construction originations.  

It's obviously more important to have more conservative cash reserves when your property is not cash flowing.

You estimate vacancy at 8% which is conservative.

I'd personally be a bit more conservative with the underwriting and make sure to see what the carrying costs could potential get to especially if this is a bigger renovation and not just cosmetic. 

Insurers have become extremely conservative over the last year.

Renee, I'm a conservative investor, and so do not feel they are a match for me personally (for numerous reasons) so am not invested myself.