I think you should go through with this project.

If your trying to redeploy your capital,  do you think that you can get more than 8.5% through other projects and could you do that more than once during that 4.5 years? 

(The picture is of a different project) 

Although we do have our own money in every project we do, we rely heavily on our network of Private Lender's.

If you have limited prior experience owning / operating multifamily assets, they'll also require you to use a professional property manager with multifamily experience.

We do the leasing for them, but once we get the tenant in place, turn it back over to the owner to manage. 

In 15 years of management and 20 years of investing, I've never had a break-in on a vacant or occupied unit.

I was wondering if you found a lender, and if so, how your project is going.

The manager doesn't determine what they do and don't like, they 'manage' the HOA to comply with the law and guidance from the Board.

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement.