Quote from @Miguel Del Mazo: @Bonnie Low I went to check out MiniStays a while back, and it seems like a good site. 

Cost to build is $350K (I am managing it all myself and calling in favors around the city to get low rates on materials and labor).

I have a rental in Ft Lauderdale Wilton Manors neighborhood that is being managed by Icon Realty.  

With HML at least you in theory can vet the property and keep a low LTV to ensure you can be made whole.

Neighborhood BThank you

Most of my CFO clients that are in residential development are looking for IRRs (usually over a minimum 5-year period) in the high teens and the commercial developers are looking in the low to mid 20% range.

Every Market (Detroit) is made up of a series of Micro-markets (neighborhoods) of which they are all different in cost, value, cash flow, rents, etc...

Even though there is low inventory, interest rates are high, and many properties don't cash flow, look harder there are always deals, you just need to find/make them.

I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty). 

I changed Grandview and Raytown to be B-/C+ neighborhoods.