one thing I find in our markets is the larger multi family new developments just don't pop up one day.they are 3 to 4 years in the making and its a little like stopping a cruise ship once it gets going .so what we are working on today in planning and permitting we wont built for another 2 years or so.whats coming on line today folks bought and started in 2015 and 2016.. so that can lead to over supply for sure in the rental realm. 

Thanks for sharingThe repairs and maintenance line item i would assume you would have that if you had long term tenants too.

I am in the business of real estate investment funding and business lines of credit. 

It lists the line of credit, are they referring to a heloc on the property?

Remember credit lines are your friend and cash should be turned into more assets and not just sit around. 

Maybe there's a silver lining though... if people are trying to get out then there may be some motivated sellers out there.

What exactly were you looking for product wise and what rates did they quote you?

They sell a great product with an under lament on it for $2 to $2.50 a sqft. 

@Van Blackman I am kind of in that same line of thinking...if I can't find a "true" comp, then I am apprehensive on taking a property on.

Assuming permit ready doesn't mean approved, you'd need to look at that timeline and then construction time line.... big projects take time to come on line.