With any partnership, substantial economic effect is going to come into play here.

But, you are just playing a sales game.

Without those info it’s tough to say.If the numbers work as a rental and you can get it rent ready with $10K, that’s usually the safer play short term.

These days, I still play a major role in reviewing the numbers.

I've noticed that the best landlords and the best founders play the same game.

@Doug MartinIf you really want to play the RE game I suggest the following.1.

**Exit strategy on TOD / SB 79 sites:**     For small TOD infill like this (existing 4-unit, potential for higher density):   - Do you underwrite mainly as an **entitle-and-sell** play,     - Full **build-to-hold**, or     - A phased approach (stabilize existing improvements, then entitle and redevelop later)?

I play browser roulette to get all functionality.  

You can still play the game, it just looks a little different.

We've definitely seen the pullback on the smaller side from traditional banks, especially for ground-up and reposition plays that don’t check the agency boxes.