Are you planning to finance this project or use cash?

It has to be marketable, but there are much better properties than mine in this neighborhood.It comes down to 3 basic pillars, and I'll give one example of each here, and will go into more depth on each when I have a bit more time.1) Listing Optimization - Bullet points, color.

Some basics I like to learn are where are they from, where are they currently working/living (I'm interested in possible personal connections), what do they currently own, how much do they have ($$$) for a down payment + closing costs, are they pre-qualified, etc.

While the operator initially projected strong returns, the fund has failed to pay distributions for over two years, and several key performance metrics have declined sharply.Key Performance Data (as of Q4 2025 Report):Occupancy Collapse: Occupancy has dropped from 97.5% at acquisition to 78.1%.Net Operating Income (NOI) Decline: Annualized NOI has fallen from $3,323,252 at acquisition to $2,525,046—a nearly 25% decrease.Loan Non-Compliance: The portfolio’s Debt Service Coverage Ratio (DSCR) is currently 1.10x, which is below the 1.25x covenant required by the lender.Lender Cash Sweep: Due to the covenant breach, the lender has initiated a mandatory cash sweep.

Even if you gave them a small equity component that does not mean that the architect has a skill to manage a construction project 

Once you factor in typical reserves (5-8% vacancy, 5% maintenance, 5% cap-ex), you're basically breaking even or slightly negative cash flow.The real question is what's the $187k going to do for you?

For those, all I do is delete a "projected" value from a row and maybe update the date if it didn't occur when I expected it.

Welcome I'm fairly new here as well however I have experience with assisting investors with funding projects nice to connect. 

Nothing helped me see how my actual property performance compared to my original projections.

You can even watch what properties eventually sell for and recheck your math.HINT: you should work "backwards" from the projected market rent to determine potential offer price.