They should have locked down their financing for the period of the investment or had the Balloon terms come close to the investment life cycle. 

To get some insight into the development process, take a look at this thread I am writing, walking through an actual multi-family development project in SoCal: Life Cycle of a CA MF Development ProjectI am an offer of help, feel free to post questions here or you can send DM. 

I have to explain to the the capital requirements to acquire an asset like that which would be 60k+.For projects under 100k purchase acquired at 80% leverage you can figure needing 25k - 30k in liquidity for all the costs of the life cycle of the project.If you start acquiring in that 150k range, that lifecycle can go to 40k/50k needed to make sure you can handle the down payment, closing costs, holding costs, any miscellaneous costs that pop up and then still have a cushion in the account cause you never wanna be down to you last dollar.One of the first questions I ask new clients is what kind of capital do they have behind them, because that number will determine market and asset class. 

Fed's meeting earlier this  month to me tells me it's wrong, they know very well business life cycle is #1 agenda on 2024 but cannot state that right now.

I learned a bit about the process and was given info on how to get started researching on county websites and also info on the lifecycle of a lien.

If you are just starting out, I do not recommend you exposing yourself to more than 25k - 30k in capital investment through the whole life cycle of a deal - close to close.

The business life cycle engulfs the inflation fight, so it's a 2 in 1.

Lmk if you have more questions.Only other one I liked was Bryt Software but they couldn't do much in the way of standardized loan life cycle task management (moving loans from application to document collection and review to underwriting and escrow and in-service).

He made two commissions during the lifecycle. 

Get in and our of 3 projects as fast you can and now you have the experience and some profit and now the terms and programs get better for you and you will have gained some knowledge and know exactly what to expect.Just keep in mind that projects have a life cycle of 4 - 6 months.