You own a note that you could sell later if you need to.

You have decent cash flow that you'll continue to accumulate, which you could put toward a deposit later for another property. 

I am basically counting on the values appreciating over the next 2-3 years and possibly refinancing it later.

Come back later once you get things back in order.

They were so traumatized by it that years later at a restaurant they wouldn't pay an extra 30 cents for blue cheese salad dressing. 

Only time they really get bought is buy a novice who thinks they can turn them into something, only for them to later find out that it's cost prohibitive.

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.  

Two days later our offer to purchase the property + adjacent empty lot was accepted.

If you convert it to a rental and sell later, you may owe capital gains tax + depreciation recapture, unless using a 1031 exchange to defer taxes by reinvesting in multifamily.Leveraging $100K in equity via HELOC or cash-out refinance can help fund the next deal, but ensure rental cash flow covers debt, expenses, and reserves.

After I cut he and his now wife loose I sold the property for more money 30 days later after we they made fake jim.bakker promises for 45 days.