Don't get me wrong, there have to be some good groups out there, I'd think it has more to do with the leadership and true educational goals of the group and the quality of instructors and guest speakers than what guru might show up. 

Very challenging if not impossible to make lot ratios work if the existing property isn't conducive. 

But, if the deal is a true ABL play, I may not even look at a credit report at all.

Personally I am thinking 1c. 1c but 2 being more true then we would like. 

Now investors, especially the newbies, are chasing returns by going after higher risk investments - many NOT really understanding the true risks.Many more investors will be losing money and choosing to liquidate real estate - which will be buying opportunities for the better prepared investors.

I was hoping someone might have some experience in this market to know how challenging the process would be to obtain the permit.Thanks for your input!

We are seeking joint venture opportunities with experienced developers who can see the value in this project and help us navigate these challenging times.As partners based in NYC, this venture was beyond our usual real estate development experience.

Seller number two walks away with all their cash, and seller 1 who already agreed to SF has now become a PML without the challenge of negotiating each deal with them.

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging. 

Is your $$$/mo CF a true CF, or is that your net right now without any maintenance coming up?