Performing or non-preforming? 

Most tools give you a glimpse of past performance.

My biggest frustration isn't with the deal failure itself, it's more with the operating performance of the GP and honestly I'm not sure how an LP can really determine this.

Keep in mind, you should have already had a conversation with the hard money Lender to know their terms and process, and be ready to perform. 

You don’t get to just expense the additional real expenses.

He even agreed to selling me one of his since it’s already performing and ready to go.

I plan to act as the general contractor for these two new units, performing most of the work myself.

It could go higher with additional work to the house.

We look at lenders (so long as they lend in the asset class you are considering) as an additional line of due diligence (they deeply care about their money and they are likely more sophisticated than you are).

While under contract, we perform due diligence and there will be some soft costs incurred.