So talking to them face to face shows them you are serious and you can develop a relationship with them as well as finding out exactly what they want.

Once the developer pays operating expenses and the senior debt payment all income must go to pay the fixed coupon of the mezzanine debt.

There is a good meetup I attend sometimes on Madison and 29th, next one is October 19th, here is the link: http://www.meetup.com/Multi-family-Apartment-Developer-Real-Estate-Investing/events/226004935/.  

Originally posted by @Sean OReilly:...can be good opportunities for me to go in, lower rent and recover utility costs  My first impression is that this will be a break-even (- lower rent, + utility billings), and that you will not get paid for your development and implementation costs. 

Due to the neighborhood never being finished by the developer, the area in general, and my 1 hour+ nightly commute, we were just ready to take the loss and move on.  

I've heard warnings against purchasing near campus due to the large number of student housing developments of late.

I saw how decapitated the real estate was I saw i could make money and also help the community in a big way. the end goal is to develop in Baltimore. 

Wholesaler ad house flipper from Minnesota

Fast forward to today and I have a development business, a fix and flip business that does 200+ homes per year and a rental portfolio of 80 homes.

. - There is A LOT of development just blocks from the property including a new city park, a new student apartment complex, and a new children's museum.