In Cleveland over 75% of the population rents that are in the city.

Quote from @Marcus Ball: After struggling with local rehab properties in California, I switched to build-to-rent developers and chose a 1031 exchange.

So many population/job growth/companies moving and developing here - Intel headquarters, Google, FB, Amazon, Nationwide, Honda, Anduril etc.

Plus so many companies moving and developing here like Amazon, FB, Google, Nationwide, Honda, Ohio State University, Intel, etc.

Where single family rentals weren't exciting to me, building and developing land and redeveloping old spaces really intrigued me.

Significant and sustained population growth leads to demand exceeding current supply, causing prices to rise until there's a rough balance between sellers and buyers.

With a large student population, a growing job market, and people looking for affordable housing, rental demand remains strong.

When evaluating markets for rental properties, there are a lot of factors to consider: population growth, employment rates, rent to price ratio/GRM/Cap Rate, rent trends, vacancy rates, etc. 

I'd really vet the developer, their past projects, talk to prior partners (GP & LP) to see how prior development deals worked out and how the communication was, etc.

Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball