Prepared to hold for 8 years, ideally 10-12.

Definitely would be ideal for where I am at right now, the hard part is actually finding a private money lender!

I've developed, use with all my coliving properties, and teach HPM (household-led property management). 

Ideally you have the company and the tenants on the lease since one party is paying rent and the other party is in the home.

What should the "ideal" comprehensive check list include?

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

This ensures the property performs well even under less-than-ideal circumstances.If a property doesn’t align with your goals, it’s perfectly fine to move on.

I think development is getting more and more common since we're so undersupplied in housing. 

Part of the funds we are taking from a “C” market and will invest in an “A” market thus increasing both our development and monthly cashflow returns.4.  

How much is typical price to pay someone to develop land?