I can’t emphasize this enough; calculate the entire project in conjunction with construction timing expectations and how they correlate to the sales/rent of your development.  

Now I went through this math to emphasize that most SEASONED INVESTORS in TEXAS don't consider a negative 4.8% cash on cash return a good investment.  

I would also emphasize that you do your research on the neighborhood.

I think all of those are good ideas, but I want to emphasize reading! 

I did graduate with honors in business that emphasized real estate. 

I don't mean to sound negative, but I just want to emphasize that you really need to do in-depth due diligence here!

@Nathan G. hit on most everything else I wanted to say but I especially want to emphasize the importance of #2!

Would like to emphasize once again that TEXT should NOT be used are you main means of notice, it's okay if you supplement it for example reminding the tenant 30 mins. prior on the day of inspection via text - but not as your main means of notice. 

He emphasizes that the team (realtor, lender, contractor, property manager) are the most important determining factor.

I think if you just say "REI guy" nobody will care, but if you spin the benefit, and don't emphasize REI it could definitely help.