I'm competent and know how to evaluate if a deal is good or not but I don't have thousands of hours under my belt strictly focused on underwriting deals.

College students don't have any credit or savings, but their parents do and they certainly aren't going to let their pesky kids ruin their credit.

I know there will be thousands of calls to make moving forward.

There's no point in risking tens of thousands of dollars in net profit to maybe save $400, assuming it closes at all with some crazy title company that no one has heard of that is actually a front for a call center in India. 

However I think I would have that hammered out before you spend hundreds of thousands on pre development work only to find out you can't get a construction loan@Mark Graffagnino  do you think my comments are accurate in the Multi space.. again I have never done one.. ( just did a little 8 unit in Charleston but that was under 1 million and there was an existing 4 unit that will be remodled and we are building another 4 unit behind it.. so its a tweener deal.

It's a lot of hard work.You can make mistakes that cost you tens of thousands of dollars.

Because this was not a higher end rental, I did not want to spend thousands refinishing the hardwoods.I sanded them with the hardest grit sandpaper I could find, then painted them a very dark color (black in my case) to cover up the many, many imperfections, and put two quotes of polyurethane on them twice so that they were smooth & had a gleaming shine.  

I'll dig through county records, drive all around town, send a thousand hand written letters, anything that will help you make more money.

You ruined everything.

If it is a UDC historic-designated area there should be information available... and yes, a historic neighborhood can really ruin your day!