., then I'd say it's an open convo to get a initial draw. 

This was my initial theory.. 

You might find you NH has lower initial costs, and slightly better cash flow rates.  

How much was your initial loan for?

Or at least to cage the animal initially. 

I calculate total ROI on my initial invested capital and calculate min/max sale date. 

:) The difficult part is discerning where in the phase or business building cycle a Realtor is when you meet them... and why you (that posted the initial question): have to learn everything there is to know about your investment if you want to know that the person you are working with is telling you the truth or not.

In multifamily value-add investments, common risks include:Not being able to achieve target rentsMore tenants moving out than expectedRenovations running behind scheduleRenovation costs exceeding initial estimates (which can be a big deal when you’re renovating hundreds of units)When evaluating deals as potential investments, look for sponsors who have capital preservation of the forefront of the plan and who have a number of risk mitigation strategies in place.

If we dont take initiative to come to an agreed upon set of rules at a local city/county level, where STRs can survive and local full time residents can live together,  we risk letting the states make rules that apply everywhere.

Do you want to know whether you're in a "good" investment now (as compared to something else), or where you currently are on the return (unrealized) of your initial investment?