RevMax, Beyond Pricing, etc are more for enterprise level.

Real Estate Professional status is explicitly not recognized by California, among many other beneficial tax rules that exist on the Federal level.

Furthermore, how important will be to have one of our team members providing oversight of the development process and what level of oversight is needed if the first option is selected.

Usually, we're looking at credit scores, Loan to Value Ratio,  & experience level, for the rates and terms.

Completely eliminated noise complaints from the lower level and reduced utility costs.

Which could be an open space Medical Equipment rental business, down to a Dentist's office with multiple room utility hookups.You're going have to vet this to a lower level of discussion anyways. 

Always recommend local (or at least some level of boots on the group).

They haven't fixed the house up to MLS list price level, so why would I pay that price?

But the level of negative cash flow that you're talking about is quite high and it sounds like it's not something you're comfortable with and thus should look for something else.

It also requires gaining a level of sophistication and knowledge that not everyone has the time, inclination or ability to do.