Located in booming San Antonio, TX area near Shopping Malls, Theme Park, Restaurants, Medical Center, plenty of stores in great neighborhood.

I live in Austin and within 5 miles of downtown center you are looking at California pricing (hard to cash flow positive), lucky for me I have several duplexes bought before the price explosion.  

My full time job is as a web developer working for a company calling Planning Center Online.

There has been quite a bit of investor activity across from the Expo center, and there are plans for a massive mixed-use development there.

You’re looking for diversity; people will leave when they lose their jobs if the entire economy in an area is centered around one or two industries.Small businesses and any kind of services will either move away or fail if the biggest employers are not hiring.

Now, for 1031's, whether you traded up, or down, for tax treatment, your replacement property becomes two for tax purposes.In cases where you traded up, and took on a larger mortgage, the tax treatment is easier to explain and calculate.

My most recent business success was building a certified child care center, which was inspired by my 3 year old daughter. 

So I was happy to say, here's where you turn in your application, they run your background check, they run your credit and anything that I can see you can see also, in addition, this is not a profit center for me because you pay them and I don't get any money for your application.

My question centers around the lender's security. 

but I will take a guess at what your askingif the developer is going to bust this into lots and you stay in you just lost your tax advantages and will be deemed a dealer at the highest tax rates.sell now no risk.. and best tax treatment you could 1031.if its one property and your saying should I partner and they are going to build an apartment on it and we will keep it.. that's different.. but you lose control because your now going to put a massive amount of debt on it.. all though in your area not too risky given market conditions.. and really depends on your developer  known, reputable and stable ?