There should have been a plan-B from the start, that seems like failure #1 to me in this and a STRONG question of the experience and capability for this sponsor.

@Jonathan Lane your letter would not even be presented to my seller as we call them “love letters” and do not forward anything discussing family members or potential personal, not financial, reasons to choose yours over another offer.

I'd look at at least 3-4 family lots at a minimum for economies of scale. the price of land in miami is so high it makes single family home building nearly impossible. flips aren't worth it.

Yes, private money, but you need to build up some reps and proof of concept so friends and family can see what you have done.

Looking at the number of rentals available in the market, looks like there rental market isn't very strong?  

Depending on which state you are in, talk to an attorney and draw up a very strong agreement.

We have a very rubust rental market here, and plenty of small multi-family properties.

Let’s explore the trends, the triumphs, and the incredible opportunities waiting for you in this ever-evolving market.Single Family Homes: A Year of Growth and ProsperityApril 2024 has brought fantastic news for those interested in single-family homes in Broward County.

I'm here in Katy and it was a pretty strong storm. 

The owner of the property owns it outright, other than it is in a family trust, which is not my problem.