I generally figure a deal like this to happen as if it were a three act play: Act I Planning and entitlements to get to shovel ready, Act II Construction Period and Act III Rent up or sell out.

I have the know-how and supporting cast to make it happen on the construction and management side of things;  I have shovel-ready building plans (single family and duplex), I own or have first rights on several infill lots, and I'm chomping at the bit.

A "shovel ready" project usually has more value.  

Tenants shovel the snow and mow the lawns4. 

July & August in Raleigh are hot and humid but you do not have to shovel sunshine. 

Every builder worth his salt that I know, is running flat out, shoveling money right now.Interestingly, the silver lining could be the baby boomers.

If God forbid, you get sick for a while, who's going to sweep up, mow the lawn, shovel snow.

The paperwork and making sure everything is legal and up to code while still not shoveling out money needlessly. 

While a metallic footprint consistent with a large metallic object present, the absence of a fill pipe or vent pipe necessitates the need to excavate the area with shovels.

As a landlord, you won't have to worry about getting citations for the tenants not cutting the grass or shoveling the snow.