Instead of being grateful that we worked together to grow their business with my capital, I was made to feel like a nuisance because I asked for information about my loan and evidence to support his claims. 0/10 would recommend these people. hopefully it comes to a good conclusion as it seems like not done yet.I am sure you have some good lessons learned like late fees etc.

That is my conclusion.

The answer is simple, raise preferred equity and kick the can down the road as you can say "the deal is still alive" versus giving back the deal and there is some conclusion.

I think that's a great conclusion.

Well not really because if the deal goes bad the B-D will get a bad rap and they make their living that way, so they do not want to back a slow race horse.true, but what I found is if you collect 5 broker dealer and/or senior investor to analyze multiple offering, they all would come up with different conclusion. the broker dealer is also not smart when it comes to market risk --but they could be good in particular location/building analysis.Also I found like when a group of AI or alumni AI is collecting funds to create SPV, even what they analyzed as "good sponsor", the investment is still far from expectation during rate volatility phase like today. 

This conclusion shouldn't have surprised me.

I get it that you would have liked a phone call to determine that, but they reached their conclusion before that.  

This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.

Most investors walk a building, identify windows and other benchmarks and rely on these elements in coming to their own conclusion on unit layouts and unit count.

The referee and I signed the paperwork, I gave the auctioneer my bank check at the conclusion of the auction on a Friday around 11:30 am.