Long term goals in mind that I need a track record and capital for! 

If you don’t mind a little more advice…when I’m running projections like this, I like to use the worst case scenario and if the numbers don’t work out in that scenario, I usually pass on the deal.

There is still a lot to learn but sounds like you are on the right track. 

I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon. 

I would really take the time to work out every number you could since you are GC, and go from there!

A great one knows how to manage their crew, keep things on track, and make sure everyone is working together smoothly.What Do You Think?

So I committed to tracking everything throughout the year.

I noticed their business is listed as an LLC on their Zillow profile, and we also found that they have a few other unrelated LLC businesses that didn’t seem to work out for them over the years and were short-lived.

I would like to work out a payment plan whereby they pay me while I have control of the rights to the mortgage then in 10 years I pay off the principal.

I do however think as things clean up systematically, cashflow will improve and the benefits of low capX exposure in near term and appreciation will work out.