If they are floating, the may go up each year which will impact your cash flow.Your best bet is to secure a loan with a term length that is longer than your projected hold period.

Research a market Target one market and 3-4 sub markets Visit the marketMeet with all professionals involved including: PM's, Brokers, Attorney if required, fellow investors in local BP or REIA meet up. 

I know a couple but have yet to get any of them actively involved in our search.

Trouble is, I’d bet that the seller has already tried and some or all don’t want to sell.  

In your experience, how much work is involved for a realtor in these types of transactions?

The other thing I would say is that there are some states, like Nevada I believe, where you can set up an LLC without disclosing the names of the people involved in the company.

Once you are out of the bad deal, you can take the cash you do get out of it, and invest in a property that will make money...meaning, you will recover the temporary losses you have now, and start making a profit again.Staying with a bad hand, and continuously "betting on it", will get you out of the game fast. 

That type of appraiser will look at the proposed plans and cost involved and what it would cost the builder, if you didn't sell etc. 

I would agree with JD Martin that is pretty cheap, especially the walls which usually involves drilling 2 holes every 16" between the studs.

The experienced investors to be blunt...don't need a brand new person getting involved in real estate to try to "help" the experienced investor.