Single Family Development Underwriting

[Jonathan Orr]

Hello All!  I work for a Real Estate investment company in Southern California.  Our company acquires Multi Family complexes in the U.S.  However, just recently people have been sending me development opportunities for single family homes.  I have a background in commercial development however I have no idea where to start with single family build and sell type scenarios.  Especially with any underwriting or pro-forma.  Does anyone have an example of sample underwriting they use for acquiring a distressed home then tearing down to build a new gorgeous home?

Anything is appreciated!