The county is the second fastest-growing in the U.S. and the fastest in North Carolina.The zoning for the project is already approved, and with our captive audience of potential tenants, I’m confident that all units will be leased upon completion.I’m seeking advice on how to best structure this debt with a private investor or investors in the short term until the property is fully rented and long-term financing is secured.

Bryan, it sounds like you're in a tough spot, and there are definitely some red flags here, especially with the property already being sold and the lack of communicationYou mentioned the borrower has many properties across states.

Zoned 401-commercial. .353 acre lot7 0f 8 units updates in past 7 years. unit 8 in good condition long term(13 year tenant). all 1 bed/1bath. fully occupied. 4 units on 1st floor, 4 units on 2nd. just had the parking lot repaved spring 24', good drainage.

If they are under 600 we consider it a red flag but not an immediate denial.

Is it flood damaged or located in a flood zone? 

In the future i can also build more since it is zoned up to 5 homes and allows for manufactured homes. 

If you don't know about the FEMA 50% Rule, please look into before you buy and try to rehab a home in a flood zone.

If a tenant is asking for rent reduction in normal times, then that's a red flag that you have to find a new tenant.

Question: in the Detroit Market, what are green lights, yellow lights and no go zones? 

Once my zoning variance was granted, I expected getting the building permit would be straightforward.