My name is Cyrus and I have experienced in project management in interior design and home remodeling industry but not in US.

In addition, our properties are going to be made "purpose-built," a finished product thats specifically designed to attract today's college students with amenities that appeal to that demographic.

I do not have enough capital myself nor am I comfortable enough with the construction process/managing the project to go on my own using private money...

It would all depend on your comfort level with the area that the building is in.

(I am an apartment manager, graphic designer, web designer, social media expert, publicist, writer, festival planner and very connected person in Tacoma). 

I did reach out to the only contractor I know (that I felt comfortable in approaching), to partner up with on this project, however, he's currently tied up with various other projects.

I can get $600/mth to rent to artists / designers / photographers ...without it the deal doesn't make sense.

So...you need to have a back up PM company that you've already talked to that you are comfortable with...so you don't miss a beat.What happens if you cancel your agreement with the PM?

It's not really equivalent, but at least it will give you an idea of the financial foundation you need to build in order to retire comfortably.

Regardless of what I had I felt more comfortable with the construction business.