Sounds like you have a good head on your shoulders...willing to be patient and able to run numbers.

@Steve Vaughan  one thing for certain once people understand how safe it is to own rentals in East Wenatchee there is going to be a huge run.. no forest fires maybe a grass fire and of course some blowing dust and sand.. but other than that one of the safest places to be for any kind of negative weather events. 

It is run by Jane Garvey.

Since I am the money man, what happens if something falls through with the refi or we run into a money issue early on?  

Good evening Hope all is well, I am new to real estate Investing my partner and myself run a painting service company residential/commercial in the Atlanta metro area.

It is a garage in the back that has plumbing and electric already run to it.

I see these developments being good for an area but I'm not sure if they will actually be the game changer that many think .plenty of places in the country where there are stadiums but the surrounding area is run down or high crime .I also see investing with negative cash flow being risky .

In my wife's case, it's her mom's money, but she does the running around for mom.

You can still show it and run them through your processes.  

I'm ready to buy my first rehab project and I've been running the numbers and kind of disappointed about what I'm finding.