I've developed some great relationships and also a business partner from these meetings.

So are you saying we should go with an LTR first and develop some knowledge/experience before getting into STR's?

Essentially, this follows the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method, but with the twist of continually developing more homes on the same piece of land.Do you think this strategy makes sense?

The list may be on Michigan state Housing Development Authority website.

This gives people little reason to choose older existing homes over new developments.

I purchased the property after reading Brandon Turner's Rental Property Investing, and with what I learned, planned to purchase 1 property per year for 7 years to develop a solid stream of passive income.

BUT, I am confident that while the above covers MOST situations, in a country of 300 million + people there are locations where a 12% ROI exists for a car lot - though you may be giving up the “windfall” of a developer wanting and willing to pay a premium for your lot.  

Most times things don't go to plan in one way or another.You need to develop your project management skills because that is how you eat a loss on one area and manage the project to success.

I made this mistake when I was starting out - I got excited about the returns of a development deal - but I didn't pay attention to the fact that I needed to be a cash flow investor because I did not have a W2 income, nor did I have sufficient passive income yet.It is critical for investors to understand the relative importance of evaluating the sponsor, alignment of interests and the deal.  

I'm looking for real estate developers to partner up with.I'm with Mini·O (mini-o.com), we sell backyard studios: from mini offices (96 sq ft) to tiny homes (300 sq ft).