Chris, Interesting post; my apologies, I probably should have prefaced my post that I am a beginner, not a land developer, just an idea. Looks like my first deal will close in a month for an SFR rental. My comments were merely suggestions for future developments and as you said, I thought they probably would not work on this property and may not work at all. There are quite a few 5 over 1's in Durham and I believe the new properties that went up on Hillsborough Road close to NCSU would be considered 5 over 1's or 4 over 1's. I think there is one in North Hills too across the street from where JC Penney used to be or still there? There is also one in West Cary as well. They seem to be in upscale neighborhoods/areas so maybe they are not suitable for my suggestion. They are prolific nationwide, not a bunch in Raleigh like you said though.
