Sadly the underwriting seems to have been an oversight in the areas you had mentioned, of course sponsors will always cast the brightest light on every situation but we and they must remember we aren't paying for their education but expect the experts to lead the investors thru experience and wisdom.

This decision was not made lightly and comes after thorough deliberation and analysis of our current financial position.This requires us to exercise our right to convert your Note and issue equity (aka membership interests) in Norada.

Hey Joshua,I'm currently in the throws of a development project in Brooklyn, and the $300 a sf model is a little light, especially if you plan on decent finishes. 

If the prices work where you are, I think with your experience, you could go right into a four-plex and do fine, especially if it was light to moderate value-add because of your knowledge and connections.

Based on the local market, $15k for renovations seems light—have you had contractors confirm this budget? 

Maybe someone can shed light on agreements such as this.TIA This ultimately comes down to your relationship with the broker.

A common rule of thumb is around $30 to $60 per square foot for light to moderate renovations.

In these early stages of learning and developing as an investor, I'm primarily focused on properties that may require the following: paint, flooring, bathroom/kitchen remodel, drywall, light fixtures, exterior landscaping, siding, or new HVAC.

With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few.

Due to amortization schedules front loading; you could be burning money if you go light on your down payment and use a 30 year.