Anyone have experience on how these should be considered during the analysis phase ?

I recently acquired a decent size Flex Asset in the PHX market, we are in the last phase of leasing it up, and have quite a few requests from investors to get in on the deal. 

Is it safe to say we are in sale Phase 2?

I'm in the beginning phases of getting into the rental real-estate market.

I've done my research and Durham, NC is in a growth phase.

Once I’m out of the growing phase I will start to use the money for living, until then I just use my lowly W2 job to get by.  

Then we will either sell the development once it is shovel ready, or start phase one and develop the homes.

I suspect there could also be a specific consulting aspect for direct assistance on the contract phase, due diligence, negotiation and operations aspects as well. 

@Kevin Riven because in Phase 1 you can get decent deals and lending is plentiful, in Phase 2 the properties you own or will purchase are about to increase steadily in value, in Phase 3 the properties you own or are about to purchase might decrease steadily in value, and in Phase 4 the properties you wish you could purchase will be very difficult to acquire since lending is almost non-existent.

The expectation is to loan $300,00 (their full development costs) and then they will buy me out in 2 years (either from the profits or a commercial loan - they aren't looking to sell the project after completion).I am considering loaning the money and asking for 8% annual return (paid monthly) even through the build-out phase for a total of 2 years.