If you want to be a passive investor, you need capital, information and a network, but you don't need specific advantage in real estate.  

A picture is worth a 1000 words and a project we helped someone on in the UP was able to gain support and approval by getting renderings done showing what the finished project would look like.

Anything smaller may not attract larger investors or offer the economies of scale needed for profitability.Design Style: BTR developments often consist of attached townhomes, usually with features like garages and a more upscale design to appeal to renters looking for something between an apartment and a single-family home.Location Factors: The success of your development depends heavily on location.

Adjusting the purchase price, budget, and offers can help you reach the break-even point.Many calculators overestimate cost assumptions or rental comps, which can be both beneficial and a hindrance.

But we had four kids, a hubby who was a car guy and needed a shop or big garages, and a limited income.

Generally speaking solid insurance and a good umbrella policy will provide ample financial protection for most liabilities.

Our rent-by-the room residents appreciate a lockable bedroom door, a private bathroom, sufficient on-site parking, a large refrigerator and a large washer and dryer (in order of most to least important).

And as I posted i grew up in the land business .

The outcome was great.. they secured a mid-century home with a rental unit that offered both a comfortable living space and a reliable income stream.On a personal note, a friend of mine made a bold move and purchased in a slightly less popular area.

The primary form of diligence we see on the forums is "what do you think of XYZ sponsor and deal" whereas the common form of diligence in the space by institutional investors, large investment groups, family offices, and sophisticated investors involves following the sponsor for years, underwriting the deals, validating rent comps, background checks on the general partners, and a host of other diligence that materially de-risks the investments.