However I talked to somebody yesterday with development (but not syndication) experience who got me worried that this was not typically the case. 

If I found the right person I would also be open minded about partnering on a deal to re-develop the site.Thanks all.Tim 

I'm unable to recreate this issue, but I'm having my calculator developer take a look at this.

If you don’t have a business plan my advice to stop everything you are doing and develop one immediately!

@Joseph Cornwell Thank you for your inputs,I agree with your analysis.My investment strategy is value add apartment building (15~20 units) in neighborhood B/C,I know east side high levelly better than west side,but I am open to west side as well as long as I can find good deals and team.So right now I just deeper my understanding of the west side of Cincinnati market,hope I can identify decent area and deals/teams to match my target.

As you try to navigate through uncharted territory to find your niche, identify your desired outcome and work back from that on how you'll get there. 

I was a City Planner in the late 1990's for a municipality in Central Florida, and a Land Planner / Consultant for developers in the first decade of the 2000's. 

I live in the NYC area I was wondering if anyone has ever been an investor for a developer for a funded investment in Brooklyn?

I purchased a condo in an a development that does not have an HOA.

Not a developer by any stretch but I am thinking that excel is not what you want to use for this type of application.