Quote from @Daniel Huang: Hi, I am trying to transition to develop my rental income as I am in the final years of my professional career.  

In July of last year a roof leak developed and caused damage to the ceiling in my unit, to the point there was partial ceiling collapse. 

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

@Jay HinrichsI currently develop in NC.

The developers/promoters are touting it as a highly automated deal finding solution that's good for those who have a full-time W-2...

I personally like to buy in towns/neighborhoods in which no new builds are possible within 10 miles because all the land is developed.

Prices remain relatively low, but appreciation may be slower.Monroe: A mix of cash flow and appreciation potential, Monroe has become a popular choice for investors, especially in areas where new developments are popping up.Appreciation-Focused NeighborhoodsBallantyne: A well-established area with high demand, Ballantyne offers excellent long-term appreciation potential, though cash flow opportunities may be limited.South End: A booming urban hub with a vibrant retail and restaurant scene.

This year’s most popular areas are known for being fast-growing cities with plenty of new development, with healthy job growth in Florida and Texas in particular.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

@Dave FosterAre development rights “real property”?