Palm Coast, while not as flashy as Miami, is indeed growing rapidly, with increasing interest from higher-income professionals and retirees.

With the COVID-era surge in home prices, rapid increases in mortgage rates, and rents not keeping pace, it really has gotten harder to make these deals work.

I enjoy college football, video games, and lifting weights. 

In areas with rapid and sustained appreciation, you can use the equity gained through appreciation to purchase additional properties.

We quietly now have a $600K median home price and are rapidly running out of developable land. 

Take a look at Grand Rapids, Kalamazoo, Lansing, Muskegon and Detroit.

Beside investing their own cash on the same terms, the sponsors return should be heavily weighted toward “carry” (receiving the bulk of their return as sponsor in the form of an interest in the property rather than cash) with that carry subordinate to the investors receiving their investment returns PLUS a minimum annualized return.

If any of these do not pan out, the turnkey company feels the weight of assuming that risk. 

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.

SUN Title Agency for Grand Rapids.