In this IDEAL situation the savings is minimal.  

Given the abatement option could you continue to occupy 15% of the building with commercial tenants while the rest of the building is converted or is that a logistical nightmare/ideally are you seeking different long term commercial tenants if you go that route? 

Ideally, I'd like to find a balance between affordability and potential for appreciation.Also, are there any common pitfalls or things to watch out for when buying a multi-family property in Jersey City?

I had large payments on my personal loans due and extra money going out to finish the project, not ideal.

Having two people paying rent, but only one living in the house is not ideal unless both understand clearly they are liable. 

Ideally, the software can integrate with my google calendar. 

.: Quote from @Theo Hicks: In ideal conditions:Pref equity receives higher ongoing distributions but no profits at saleCommon equity receives lower distribution and profit at sale (assuming their is cash flow left over after pref equity is paid and assuming their is profit at sale.In non-ideal conditionsPref equity may receive ongoing distributions less than pref, or no ongoing distributions at all, but the pref accrues.

For example, one of the lenders I deal with requires at least a 700 score for "rookie" developers with no experience and requires a 25% down payment and charges 13% rate and 2.0% fees.

The market we are in currently is ideal for such but we need the initial capital and assets (rehabbed) to begin execution on the model. 

Ideally, I’d love to integrate an AI chatbot into Zillow to streamline communication.