On the other hand, a 24-year history with an 18% net IRR that includes some losses may indicate a more seasoned sponsor who has navigated multiple market cycles and learned valuable lessons along the way.Regarding internally managed operations, like property management (PM) and construction management, scale plays a crucial role.

Lessons learned?

This is a learning lesson for me. 

Lessons learned?

You can use this as a lessons learned and get a better idea for how long something takes and how much it costs. 

Not easy, but fixable and a good lesson for a new investor to learn.

The other 2 were inherited from seller(big learning lesson for me).

Lessons learned?

Lessons learned?

Lessons learned?