There are plenty of good ones on here, but I have been with @Joshua Jones since I started and he has been awesome. 

Hey Sam,Good move.

Of course your property manager will know the rules, but it is always good to understand them :)

Good luck  

I think it is ambitious; maybe an opportunity if the numbers work and it is a decent property in a good location.

Definitely an interesting idea, but I think you have to either have some property management who has experience / knowledge with managing properties like this or some personal knowledge / experience running these types of properties.I also think there is good opportunities around college campuses like Kent State, Toledo, Baldwin Wallace and rent out per room to college students. 

They will be able to help you evaluate the deal, find a CPA who can analyze their books, make sure you have all necessary contingencies in your offer and find the any and all skeletons in the closets...Good luck!

Good questions, I've tackled this same question with a number of my clients. 

Ensure the developer has a good history of delivering projects on time and as promised.- Location and Market Trends: Choose projects in prime locations or areas with high growth potential.

Hi Casey,As the gentlemen's above mentioned, 20% out of $700K is indeed $140K, so the answers is yes.As a hard money lender, my 2 cents for you is that if you don't understand the loan structure in 100%, not 99% but 100%, don't go into it.BTW - As hard money lenders usually we charge less than 20%, but seems like this is a factor of maybe less experience you have.Anyhow good luck!