I still went through with the deal, but I will end up coming short on re-cupping this after the refinance is complete.The True Cost of Hard Money - This is tied in with the closing cost portion as I definitely fell short by failing to ask more questions regarding the fees associated with the Hard Money loan I used.Cost of Materials - This is really  mistake, but I am including it anyway as I could have done a better job on the front end with selecting the correct materials on the front end.

Originally, they priced the house at $94,900, someone else offered and financing fell through.

Here are the current numbers I have on hand:10m$ purchase price62 beds800 000$ down payment (on our side as investors)Revenue: 40 beds occupied currently, bringing in $3 000 000 a yearAfter the debt service and all costs 900 000$ would be the profitThe operator had a family friend who was going to invest, but the friend fell through because of family issues and he has 35 days to close,I asked him about the eventual exit and he said "I could buy out the equity partner if they want an exit!"

Detroit was sprawling city with suburbia, as the lesser areas got abandoned it fell into disarray and was way to large to do anything with.

Counsel representing the bank is actually in the same firm as the attorney I ised when negotiating a deal that fell through.  

I fell if you take the "easy button" away, it will eliminate many of the calls that could have been avoided. 5.

Additionally when a deal fell thru because the financials were not going to pan out as advertised, I never received my earnest money back. 

@mitzmichael, of COURSE it was stressful, but only to the point that we could have simply walked away from the deal once the initial financing fell through. 

If it makes you fell better, I don't "conform" either and will do ~$25m in lending this year.

We saw this in 2014 in Houston w/oil falling from $100 barrel to $50 barrel  w/B/C value add properties there performing admirably while class A occupancy fell hard.