Thats a lot of work that a company would have to do and they would want their money back on the development costs.

The buyers had invested a lot into the deal (~$100M) and purchasing the property was critical to complete their development.

Focus on finding a replacement with strong tenant screening processes and performance guarantees.

I'm fairly new to investing and looking to wholesale at first, then develop a portfolio of rental properties in apartments, SFH or both.

Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.

Build a strong team, prioritize cash flow, and take the time to understand the local market and regulations, especially for development projects.

Hopefully that upfront diligence plus a healthy contingency budget would suffice to keep me out of that scenario, otherwise I would foresee a guaranteed loss, or underperformance at the very least.

Single family or multifamily, flips or rentals, new developments in light areas or infill lots?

I want to develop my sales skills to negotiate better deals.

I tell people that I often act as "Financial Psychiatrist" with my RE developer clients.