If you're stuck on Maryland, the neighborhoods just outside of DC will produce similar results.

Just the other day, my wife turned to me and said that for the first time, really, she was certain we'd have ten self-managed rentals all producing income at some point.

@Cameron DeGeorge great job.This isn't a huge data set to work with, but I'm curious if each channel produced a lead or some produced more than others. 

The allocations must comply with the substantial economic effect (SEE) safe harbor rules or produce equivalent results to such compliance. 

The long and short of it is that the trust would sell the props and reinvest into other income producing assets, and you could draw income from the trust during your life, and then whatever remains when you pass would go to your chosen charity (or educational institution, they reeeeealllly push this on their wealthy alums, but I like the idea of funding a worthy charity, personally).

You should be deducting that off the top of your rent before any other deductions to come up with what the "property" is actually producing.

An extra $10 per applicant would produce an additional $3,690 income but I don't bother with it.

Selling the land and going immediately into an income producing something at 8% will yield you over $700K in cash during the same 36 months you're waiting for the development to complete. 

IM looking for agents to source and asses deals as well as general contractors and/or subs who can produce quality work in a reasonable amount of time and a decent price.

This would leave me roughly $220k that I would take and purchase income producing real estate outright (there would be no loan or mortgage on these properties).