This could be due to various factors but most common would be tight underwriting or inexperience of the borrower (or both). 

Rehab fees are coveres with loan from a local development community program. 

You must be able to know what works for the investor and also works for you . so make sure you are factoring enough cushion for negotiations .3# Estimates Be able to access the approximate renovation cost for your investors . complete a spreadsheet that will help you calculate cost .

My background is in software development and web application development, so I know I can assist with technology related questions. 

@Joel FineGreat question, I also was factoring in these #s the other day.My management company charges flat 6% (5+units) with a $150 re-up fee for new qualified tentsnts and a service fee of $45 per hour.The more units I have with this company I can also negotiate that down and the goal is to keep tenants happy and stay as long as possible.

The key factor, you being the negotiator, if you feel strong in this position and if you do not. reach out to a real estate investor and negotiate a percentage you are willing to provide for their service. 

But there are a lot of other factors than age to worry about.

Barring market specific factors, I am very confident in the MF market. 

Is there a standard formula developers use to determine if the property works with these numbers Building Area2,000 Sq Ft (20 Ft 50 Ft)Residential2,000 Sq Ft - 2 ApartmentsPart basement1000 Sq FtGrand Total3,000 Sq FtConstructionBrickFacadeComposition AverageLand Use1 & 2 family buildingsLot Area1,800 Sq Ft (20 Ft 90 Ft )Building ClassB1ZoningR6Residential FAR2.43Facility FAR4.8FAR as built1.11Buildable4,374 Sq FtAir Rights2,376 Sq Ft

What are your thoughts on the Troost Development?