@Cory J Thornton what you are looking at is Class A properties.Those aren't cashflowing for buyers anymore due to higher interest rates (they haven't historically either).If you compare new construction to existing Class B & C properties, it's almost always cheaper to buy than build.

This historical division of roles might lead to CPAs being excluded from initial discussions.Perceived Scope: GPs and attorneys may perceive the initial structuring phase as primarily legal in nature, focusing on regulatory compliance, fund agreements, and investment structures.

If you are in the City of Cincinnati, go to the historic conservation board and download some presentation packets for past projects like yours (worth the time it will take to go through them) and see which firms are doing them.Here is the site where you can look at other developers packets:https://www.cincinnati-oh.gov/planning/historic-conservation...

Looking at historical correspondence in our CRM that is 5+ years old, I can see there were warning signs that I ignored.

@Charlie Curtis Irvington is one of the oldest neighborhoods in Indy and is desirable and historic. 

Do you know what historical "norm" or average is for appreciation as measured over the last 20/30 years PRIOR to covid?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Most of the Snowbirds hail from British Columbia, Alberta and Saskatchewan and they flock (no pun intended) this area from October - May (to escape the harsh winter months in Canada). 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

They are historically associated with travel nurses, but guests looking for midterms are much broader.