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LA hillside development: how to lose a million

Someone spent 1,000 hours and probably half a decade getting entitlements, grading, excavation, shoring, retaining walls all done. Then walked. $3M default. Foreclosed. Lender tried selling it for $2.95M last year. Now it's on its second broker asking $1.85M. The person posting is 18 months into permitting a 3-unit ADU on an LA hillside. Their advice: careful. Development in LA isn't broken because of builders or design. It's broken because the machinery eats people alive before they reach the finish line.
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