I'd imagine polititions making new regulations and incentives for housing starts putting a wrench in the next 10-15 years being as good or better than the last theory.

However, I recognize I still have much to learn.I would highly value advice from veteran investors on finding the right opportunities, understanding regulations, financing projects, and overall best practices.

However, it's crucial to ensure that any repayment arrangement complies with IRS regulations governing self-directed retirement accounts.

Competition is fierce, rent rates are dropping, expenses are increasing, and government regulation is making it hard to operate.

Apparently 95% of new multifamily construction is rentals now rather than condos due to arbitrary regulations by federal mortgage agencies and how those get intertwined with contractor defect laws https://www.minnpost.com/cityscape/2014/02/where-have-all-co..."

Generally speaking it's not regulated because it's an agreement between two private individuals. 

Personally, give it this thread, I'd be more concerned about your lack of experience than just about the costs.This is a big undertaking for a first project, and not only will you likely deal with complex budgeting issues, but you'll also deal with a complex build and regulation that is for more complicated than your typical single family development.

That's not the way TX tax sales work.Also, while there is no zoning in TX counties there are regulations on developing trailer parks. 

I keep thinking the more regulation the more expensive it will get. 

PM's are not very good at this.We have our tenants sign a trampoline agreement, which takes care of liability and also regulates the restoration of the lawn.