Not sure about the lenders south of the 49th, but I would presume a similar expansion of the conditions triggering a due on sale clause has occurred.

On the positive side, all of the interior walls are concrete block which limits peripheral damage when shooting occur inside the buildings or tenants set their units on fire. 

One thing I’ve been learning over the past few months is that the crazy times we were expecting didn’t seem to occur.

It is good that you are saving almost half of your income, especially with this transition occurring so soon.

And then you have a TVM problem as though payments occur over future months (for him, though he may not recognize it) and a higher than 15% incremental tax rate problem (he will probably recognize this one).  

Even if you get a referral, you might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

@Kevin Sobilo Thanks-Yah I don't really think anything shady is going on, I had a similar issue occur in my primary residence and when they gave me the initial quote I figured it would be higher, as this stuff always seems to be.

It's likely the bulk of your development is going to occur in years 0-3 and assuming your team provides you with the aforementioned things you'll likely achieve success much faster than you would on your own.

I think the bad situation occurs when you have a tenant that thinks they will live rent free with zero consequences.

What harm would come out of sharing that?