I don’t know how much initial equity but if your guess is right 10 cents on the dollar is about right. 

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

.• Retirement communities• Syndicates (from initial explorations, little transparency from providers, little oversight - almost leap of faith and trust in provider?)

However, I made the error early in my career of thinking I was generating way more cash than I thought I was. 

The reason I am analyzing with slightly different types of properties for those 2 scenarios is so that my initial investment is similar. 

Any advice, tips, or scripts for making the initial contact and navigating this process would be greatly appreciated!

On the initial agreement, it clearly stated that the buyer was going to be using financing and listed the terms of their financing

With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M

As for the initial post, I would ask a few questions to shed some guiding light.

The replacement shelves were ordered individually, I was charged the initial inspection fee to tell me the shelves were missing, the cost of the shelves plus markup by the PM, and $67 an hour to "install" the shelves.