Joe Papp thanks joe, as a follow up, how long do you think the redevelopment can continue up towards NE Philly?

We agreed she would continue to pay rent until a new tenant is found. 

An excellent way to continue succeeding in real estate is buying and selling undeveloped land.

Not to mention the fact that marijuana use in teens, DUIs, violent crimes and armed robbery have all declined in states that have legalized pot in some form or another...... not that were discussing the social ramifications.I could continue to rattle off talking points but the TLDR is: depending on who you speak to the marijuana industry gets a bad wrap, in my humble opinion its nothing short of a windfall for states that have embraced it....

The PM company that initially managed them, also belonged to the seller and they do not wish to continue managing once sold.

@Sulaiman Shah If you think you'll be continuing to mail out, consider getting a mailing permit for standard mail.

I decided to continue with MI because of their amazing reputation and asked for more info.

You don't need to continue to lose money just to ride out the mortgage.  

Then once you are working on the deal, you'll continue to update the numbers to make sure you are tracking.Good you are getting GC costs, but make sure you get all your soft costs, insurance, architect, CE, MEP/S, soils, environmental (Phase 1) if needed, condo map completion, dept. of real estate condo map sales process costs, etc.My observation at this point is that my ability to guide you through the process via BP posts will be very limited.

The debate going forward is continue using my own cash (in total control, no interest, can make more competitive offers to acquire properties, higher $ amount returns, no contractor draw requests/inspections to deal with throughout entire project) or turn to a HML who is going to cost me around 10-11% with 2-3 points interest only loan with no pre-payment penalties (much less cash out of pocket, high cash on cash % return, potentially do multiple projects at once).