Help with single family real estate development

[Justin Frank]

Hey everyone, we are looking to get into development over these next few years and we are hoping to get some insight on how someone with some development experience underwrites their project. We have our eyes on a few different parcels. One is a 10acre and the other is a 12 acre parcel allowing 4 homes/1acre. Is anyone willing to share their process for determining whether the project would be a go or no go? What are the upfront steps you consider (set backs, zoning, permitting, development costs, price per parcel post development?) Thank you ahead of time to anyone who is willing to share. 

Justin