Last year I swung for the fences and got financing on a multi family that I believed was WAY over my budget.

Track your spending and see where you can cut the fat out of your budget.  

They tear as many down per year as the budget allows.

You also have a higher likelihood of getting approval from a local bank if you present your business model, proof of income, tenant contract and maintenance budget. 

Retail seems OK, but I would expect issues soon if you are selling into the lower price points - the target market might work in hospitality, entertainment, or other sectors hit hard & recent job losses I think will hit the lower end market first.Investors are holding off - I am seeing wholesalers dropping prices and hounding me when I couldn't get one to return an email the first week of March.I think prices in real estate will drop over the next 3-6 months (maybe longer as foreclosures will be delayed). 

We first purchased 12 units, with a renovation budget.

I have in the past year or so taken major steps in cutting costs and budgeting to get out of the red every month, and to slowly pay down my debts. 

Of course there will always be hidden expenses, so a healthy contingency budget is a must.  10-15% contingency is recommended.From personal experience, I'd go with 15% contingency next time around. 

The 3 projects budget and timeframe was 200 million and 2 years.

If the repairs are things you do all the time and are comfortable with then thats great but if this is the first time you are working on a house I'd build a hefty cushion into your budget for errors and mess-ups.- If you are using a contractor, consider it your job to manage them, document everything in great detail that you want done and expect, and hold them accountable.