Potential tenants could include students who didn’t like their fall house/roommates, students who didn’t have off campus housing in the fall, and students who are newly eligible for off campus housing.

If the GC and contractors fall behind or aren't getting the work done, then they won't get paid and they will be replaced with a different crew.  

You’ve got lake activities in the summer, foliage drives in the fall, skiing, snowmobiling, ice fishing in winter, and of course great hiking year round.

East Falls (13.6) Rent $2100 SP $343k6.

The Fall and Winter months typically see less activity than the Spring and Summer.

People love to come for the fall colours. 

for Zero Risk to capital, move cash to your brokerage and buy USFR, paying 5.4%, must pay federal tax but no state taxes, it holds short term US treasury floating rate notes, no FDIC needed as FED can print more money to pay you offfor Mild Risk to capital, buy BKN, BlackRock municipal bond fund with 20% leverage, pays 5.5% tax free, and if 10 year bond yield falls 2% over next year, likely with rate cuts coming, then this will appreciate by about 15%for Mild to Moderate Risk to capital, buy EDV, Vanguard 30year zero coupon US treasuries, pays about 4%, taxable and if 30year bond yield falls 2% over next year, likely with rate cuts coming, then this will appreciate by about 60%Don't put into stocks if you need the cash in <3 to 5 years due to stock volatility

Note: I am under the impression that me material participating in this exercise will fall under the "Real Property Development or Redevelopment" activity, thereby allowing me to cost segregate the home construction cost.

Are they really able to achieve the projections or will they likely fall short?

They consider it fraud and will take action against those who dare to rattle their cage.That being said, IF they approve the tenant and rent you are asking, and the total rent falls within their guidelines and tenant income qualifications, disclosed on the lease you are good to go.BTW, in year #2 of the lease, you can ask for a rent increase, and don't be shy about a raise--at that point, all they can say is "no".