And doing whatever you can to cover costs make a few bucks while you hold it is just icing.

I mentioned before that these things cost money to coordinate and advertise.

In addition, targeted searches for "apartments 77008" and "greater heights apartments" have lower competition which provides a great opportunity for organic and lower cost of acquisition.

Never built one, if its straight driving range the cost is in the land as the only equipment is the machine to give the golf balls, the balls and the tractor to pick them all up. 

Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.

Do you remember how much it ended up costing?

Flex prepays (stepdowns, etc) are available but will cost additional bps.

Sam - did you ever find a more cost effective solution to this than SaniStar?

Higher cost markets produce more equity gain for the value add.  

Do they still come with high closing costs?