Sorry to hear about your loss of your dad.  

On my poor investments - those that mirror what some people on here have mentioned they love (lower-cost, lower tenant, higher risk investments) - my loss factor in some cases would approach 70% and I would slowly bleed to death!

Much of what I need to learn surrounds researching the feasibility of any kind of project on this site. .

Sell - take the loss?

Not feasible though or even worthwhile either to sue.

If you vet that far and are still considering then see if your units could stand a bump in rent to absorb the loss of rent from your unit.

Well, your cash flow, which you thought was the deal itself, simply made up for your loss of equity because you bought too high. 

I would plan on the lower end of rent values when calculating your #s.I could do 1% rent to price but it'd have to be in a stellar neighborhood with all new infrastructure (roof, AC, interior, etc) to drive down expected maintenance costs over the 15 years I can finance the property for.Don't get locked in with something that's a marginal performer with no exit strategy that doesn't result in a loss.

Not having any experience with this, I'm trying to determine what would make this a good deal for a buy and hold investor and if that's even feasible.  

Fire him...take the loss..finish the project...make a profit...move on to the next deal!