Would cash-flow very little.Obviously, a combination of the above is possible (pre-sell all but a few units, nullifying the profits, and therefore taxation).My feeling is that the first option would allow me to use profits to build something bigger (e.g., acquire another plot). 

Don't forget about single family as well as to cut out 80% of the deals.   

Quote from @Chase  I hope all is well!

With that said, I've done some research on the market and found the following information helpful in my considerations for Phoenix that you might find helpful as well:  Demand for both buying and renting property remains high due to the city's strong economy and growing population. 

We have owned rentals in the past as well. 

Are pit bulls even allowed in your area?

Hello I heard about Zi-Find was curious about them as well is it legit?  

It's not for me and I'll have a decent amount of cash to work around from allow me not to do that but for most people it makes complete sense.

Hope all is well.

Quote from @Juan Ruben Cortez: I believe the funding fee is 0.5% of the remaining loan balance, plus maybe another $500 - $1,000 in lender fees.