Expect delays and unexpected expenses: No matter how straightforward the project seems, having a contingency fund for emergencies is essential.Your Team matters.

I was ready to surrender because the actual numbers sucked compared to our projections.

I’m currently evaluating whether to go with a Fund Model instead of a traditional JV for an upcoming multifamily project, I will be working as a developer looking to do work with a more experienced developer on a larger scale multi-family opportunity.

Large Metros get this.You should be looking in growth markets which have higher cap rates - but the future projection is they will decrease.Mid-west for instance. 

@Chris Berezansky sounds like a cool project, what is the ask here? 

They can provide valuable insights.Run the Numbers: Create detailed financial projections for each property you're considering.

One of the most common mistakes beginners make is jumping into large rehab projects without having a solid team or boots on the ground. 

I have one floor plan in my project that is set up for this.. out of 90 homes we have built  we only sold 4 of them .  

since as part of the project you are going to need an architect and civil engineer, I recommend starting with them and ask them who they have worked with for zoning.

I am not sure what tools you are using for your cash flow projections but it's possible to have a property that does not cash flow year 1 but will in year 2 or 3 and so on based on average historical appreciation in Austin TX.