New Construction- Multi Family Development

[James Monaghan]

I am currently reviewing a deal for a 7 unit new build Multi Family in a prime location. The lot has been cleared and plans approved. The rental numbers look solid and the area will appreciate well.

I am naturally quite bullish with investing, however I am new to property and not considered a new development before I came across this deal. 

What are the main considerations to be made when reviewing new development deals? 

Is this biting off more than you can chew as a newbie?!