He quoted the cost of the project, timeline.

I myself am into the six figures in losses so far...

The amount of or Contingency Expense (or "buffer" as you call it) you use is dependent upon how risky you view the project.

We are the GC's on the projects and are very selective with who we work with.  

Current NOI is around $29k, with projected/stabilized NOI closer to $53k once fully leased and with a couple units finishing renovation. 4/7 leases were just renewed close to market rent, but not as high as are updated units are projected. 3 vacant, 1 just renovated now being marketed for rent and should be occupied prior to closing. 2 will likely be renovated prior to close, but not sure they will be occupied w/ rents in place prior to closing. 

Trying to figure the numbers. 

if you could find a site, build the facility and either have investors that hold the real estate or something similar that could also be a promising strategy.I'm sure interested in seeing this come together, I have a similar passion project I want to do here in central OH for figure skating.

While you’re doing that, learn how to quickly analyze a deal, figure out rent potential, expenses, and cash flow.

Then we can do multiple projects for an investor, offering a lower price point than a house designed for a retail buyer.

We've been doing a mix of custom residential projects - single family renovations, additions, new builds, etc. - as well as developer driven urban infill projects - small apartment and condo buildings, duplexes, ADUs, site analysis studies, etc.