There plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country.

@Arpita Patel I would encourage you to have a firm grasp on the numbers and assumptions before taking an investment to investors or a lending institution. 

Because of the large amount of educational institutions and white-collar professions available in Boston, compounded with a mostly reliable MBTA system, you'll see these attractive tenants having no problem living in areas that will previous C-areas provided that their units are in good shape.

No institutional money (the FHA, VA, Conv or USDA fixed rate loans everyone seeks) is available for single wide nor for DW homes older than 1978. 

So it's important to find an institution that will refi for longer periods, as has already been mentioned.

At the local REALTOR association orientation, the instructor recommended and highly encouraged taking the GRI (Graduate of REALTOR Institute)  designation coursework, stating those that waited until later in their careers to do so regretted it.

I guarantee you that the next servicer/lender is not going to honor a verbal commitment from a loan originator at a previous institution.

He is an investor himself and understood exactly what I was talking about.After we received our approval letter last week, I emailed him about a possible construction loan with his institution and his response surprised me.  

They are hands-off, institutional grade real estate investments, and they allow the option to diversify.

Second, Urban Land Institute publishes a number of books that go into various aspects of development.