Any way good luck with it.. sounds like this company's eyes were way bigger than their stomach.. to scale on scattered lots is pretty tough logistically and I guess we are seeing that play out.

PMLs exist, there's zillions of them, real estate investors work with them every day and PMLs fill a need and have a role to play as a specific tools for a specific situation.See if you can put a sharper point on your question.Mike Thanks for this Mike! 

It's easy to play the what if senario over in my head over and over again, but I've shifted from "What if" to "What's next"!

There is a potential scenario where an outside rescue fund (marketed as preferred equity to new investors) could come into play in many of the projects that appear to be performing especially if they have been paying the pref (via a reserve account stockpiled by over raising funds in the beginning).

Sorry to be the bearer of bad news, but when you look at the facts of what money was invested in and how it was handled, it leaves little to hope for.The only potential to get anything back is a potential SEC / FBI investigation to see if any fraud was at play where other assets of Norada is possibly garnished to pay back investors.

But if its a strong offer just play it out. 

People like new homes- It is easier for me to identify with which homes will be more marketable in the future yearsCons- Cash flow usually isn't as good (which is ok with me, because it is always an equity play for us).  

Likely would want to close on 11/28 at the latest to play it safe as the notice takes affect the next day, not the day it was served. 

Then divide that cost by the amount of time between now and then and that's how much you should be putting aside for Capex.For general maintenance, the age and condition of the building will play into that.

BUT, it's an appreciation play.