I think a lot of it depends on what level of due diligence is needed.

The number one fear of new landlords is placing tenants, so this adds a comfort level for them.

I took a very high level look at it and the proposal is quite ridiculous.

For example, a higher cap rate indicates a higher potential return, but it also indicates higher levels of risk, which means that the price an investor may be willing to pay is lower.For example: An investor was considering purchasing one of the two properties.Property 1: $100,000 NOI / $1,000,000 Purchase Price = 10% Cap Rate.Property 2: $500,000 NOI / $6,250,000 Purchase Price = 8% Cap RateWhen comparing these two potential purchases, it is safe to assume that Property 1 carries more risk because it has a higher cap rate.

It seems as though you have some high level return metrics you are looking for (i.e. 2x multiple would indicate you're looking to double your money during the investment: $50K ----> $100K) so curious what return you are looking to calculate more granularly?

JD said it best - I'm ok leaving some money on the table, as long as the property is performing at a high level.

For me, it added an extra level of security/ protection above the regular homeowners policy (injury, property damage etc). 

There is also some concern (i don't have details) about the level of condo fees and the suspicion that they are being set artificially low on new build.

If a sponsor is only showing gross or project level returns, I will immediately hit delete.  

Additionally, have to work around the concrete slab/driveway.New plan is to just finish converting the garage and instead of building out, raising the roof enough to get a second level.