Hi,Thank you for sharing your experience and insights from being in the private money lending (PML) and hard money lending (HML) space for decades.

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

And via the clustering we are utilizing green-space in a communal manner thus reducing foot-print of that BUT retaining such perception as each unit has walkout to what seems a BIG green space.

The Jade District has great public transit and biking access, but with the proximity to 205, the neighborhood can appeal car commuters, and I wouldn't want to lose them from the outset. 

Just a guess though as it's impossible to know without more information.Difference in conditions really doesn't have anything to do with the amount of coverage.Surplus lines policies are more and more common in this space. 

  ( i have owned 3 brokerages over the years and will stand behind those numbers).in the RE training space my thoughts are :5 to 10% of folks that pay for training do anything with it.

Throw in that you can dramatically increase the value of the property once you show consistent rent rolls much higher than when the space was used for LTR, and you have a big win. 

Seems to me cohesive set of laws and rules regarding this activity would benefit  both the public and those that want to engage in the activity.  

Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.

I am new to real estate investing and BP, and I am excited to learn more about this space!