Unfortunately, I have a friend who is going through a divorce and asked if I wanted to take over a share of his partners stake in their property.

Unfortunate experience cost me couple thousand. 

@Kevin M FinleyYou're in a very unfortunate situation, it's the risk that we involve ourselves in when using hard money or bridge loans.

I understand none of us have a crystal ball (unfortunately) but I am curious what your thoughts and predictions are (if you care to share;-).

(I think I could maybe increase rents down the road for having it too though so that may offset)- My PM mentioned that "Unfortunately this is a major component... could be grounds for your tenants to withhold rent payments".

Proximity to an incredible international airport like LAX is a big bonus, as SAN is a fraction of the size or capability or quality, unfortunately we have a garbage airport for America's finest city.

Unfortunately, you can offer the tenant money but realistically it may not work.

Common unforeseen circumstances include, but are not limited to, delays in getting permitting or scheduling an inspection (though an expeditor may assist with this or a third-party engineer if that's permitted by the locality), the quality of the GC/subs/vendors and whether there is transparent and timely communication and conformance with the plans drawn up by the architect/engineer, zoning issues, setbacks/variances, what materials to use for the new builds (e.g., are you going to use cinder blocks or poured concrete for the foundation?)

Unfortunately, Freddie doesn't like cross collateralized portfolio loans under $50M in aggregate - they're more inclined to do six individual one-off deals, which puts upward pressure on my client's closing costs and  origination fees.

Unfortunately I forgot where I saw the posts, but there's a handful of online zoom meetings in the Springs happening soon and there's plenty of folks in the area that will probably chime in shortly.