It's such an exciting part of the process!

You can expect that you will be required to build roads, sidewalks, storm water control, utility taps, street lights, street trees as well as recreation fees as part of the development process. 

Am I missing anything significant in this thought process? 

Streamline your communication process to secure quality tenants.Focus on QualityThe condition of your property matters more now than ever.

If you are not looking to evict now, I'd wait with these types of tenants until closer to the 30 days, you are looking for more confrontations and problems if you tell them you won't renew. if anything,  you can say that if there will be another violation you will start eviction process best of luck 

I know I already mentioned this, but @Mordy Chaimovitz...If you can get by with lower cash flow and invest for the long-term generational wealth (aka appreciation) in nice neighborhoods, that is the way to go, but it's tough to get by at times -- at least it is for me.Just know everyone's situation is different, and you should do what is best for your specific circumstances!

,While no investment is completely passive, proper real estate investing should be relatively boring.You asked about the process and major considerations.

We went through this process twice with them.

For your first rental property, starting in an area you're familiar with can make the learning process easier, as you’ll better understand the market and can handle issues directly.

I believe this tough-on-crime approach will make Albuquerque safer and a better place to do business in the near and long-term future.