Investing in development deals

[Rob Cee]

If you were going to be an investor in a spec home building project (either one or a few SFR's or townhomes) what types of due diligence would you do? What are the top questions you would be asking the sponsors to mitigate your risk? I have never done development myself and therefore do not know a lot about it, but I have some opportunities to invest in some projects. I have been doing as much reading as I can to learn more, but wanted to get responses from BP. Thanks