The investors that I work with that invest out of their area are most concerned in the projected area appreciation.  

I always say 'I don't care what cap rate I buy at, I care what cap rate I can turn it into'I built Market Analysis and Sales Comps tools for my local SoCal market that will let you analyze the current or terminal property & units, from wherever you get your deals from:Sales Comps & ARV estimate:Sales market analysis:Rental market analysis:Would love to discuss how to make your extension that much better!

If information is limited, use market-based assumptions to run a "worst-case" analysis.

I'm a San Antonio native and I am also a Project Manager/General Contractor.

Talk to your neighbors, get them on board for your project as the first step. 

Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.

., you lend them money) or are they looking for you to be the "borrower" of the project?

Do you have financing lined up for the full project?

We lucked into a rehab project and successfully run a short term rental in Bell Buckle TN.

PS I owe our success to this project to my Wife.. if we listened to our GC he would have put in what all the other  GC or builders do..