The 15% return is in paper and not sustainable. 

Please do both of us a favor, and write it down on a piece of paper and burn it.

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home 7 mil credit line  ... new budget for each plan that has been pre appraised in the MAI at the beginning of the project.. they did have to update the Mai last summer but again did it at their cost not mine.. banks have to paper their files.. even though we are selling the same floor plans for 100k more per plan than the original numbers came it at and bank has been paid and has all the closing statements showing this data..

It sounds great on paper but I'll have more insight after it goes live and I see how it works.

I have to decide if im going to use a new injection of capital from the sale of my primary residence to:1) Hold in treasury bills at 4.5 percent until I find another property to purchase2) Pay off one of two existing mortgages, one at 3.75 percent and another at 4.5 percent3) Just find something to buy that beats either of those percentages on paper and be done with it4) Possibly loan out some hard money/broker it to a friend to allocateIts never an easy decision, but its a good problem to have.

Whether you’re looking at SFHs, duplexes, or other properties, it’s important to pair on-paper data with boots-on-the-ground knowledge to really get a sense of values.If you’re considering anything serious in Detroit, I’d recommend connecting with someone who knows the market inside and out.

They also each get a roll of toilet paper and are expected to self re-stock.

If you treat your PM like a company that just unclogs a toilet then you're really short changing yourself. 

There is a good reason why "tenants, toilets, and trash" is something a lot of mom and pop rental property investors/landlords/flippers are eager to move on from when they can!

Look in the local papers for the last few meetings of the city council or county board to find out if any new rules are being proposed.