B2r is not HM  cogo probably soft money@johnthedford

You are not including soft costs.

Cement board alone will be far to soft, among other problems.

Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:“How to Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

Zoning, utility connections, natural hazard zone reports, feasibility studies, construction costs and soft costs are all hurdles and you need to know your market.

We get down there less than 24 inches & find a 2inch soft conduit with a LIVE 240v power line resting on top of the old sewer line???

For 165 units and the soft cost is only $1M seems a little light.Did you get a breakdown of the soft cost?

Hello,Long time lurker, decided to start being active in the BP community.I'm a lender, of the traditional 'soft money' mortgage sort. 

Is a Conventional loan from a bank or any other bank loan impossible to cash out or would we have to go through the route of a hard or soft money lender/OPM for the rest of the money?

Some recommendations:- Black Diamond (no selling speakers)- Chelmsford AREIA (not often, but sometimes there are selling speakers but it's always a very soft sell)- I guess I should put my event in the mix too.