It’s one reason why many large developers, who can hire the best lawyers in the world, often work with local attorneys.

As a retired CPA, I have seen more than my share of bankrupted RE investors who were over leveraged with many properties.All the more reason to emphasize developing good due diligence practices, having some skin in the game and staying on top of legal requirements, maintenance, finance and tenant screening criteria.

This will give us a edge as the goal is to have a waitlist of students in hand as we build so we can cater directly to the demand.Our solution is to rapidly develop housing through modular 2-4 unit apartments, which are as or more competitive then any other form of LTR I've underwritten.

That would make the existing development north and south of I-10 more appealing. 

These are going to be my first self managed units, but my intention is to continue adding units in parallel with development projects. 

Equally important are looking in areas where the municipalities have ALREADY approved of them and provide benefits to the continued development of them.

I am based in NJ but I feel nothing will cash flow or be too sustainable unless I put in a higher downpayment.I am looking to do only long term rentals and keep it with Multi-family units in the beginning and then advance to appreciation type properties in developing areas.I was thinking if I should save up more money for a larger down payment or possibly look at a different area to invest since I am NJ and the high property taxes make this hard unless more capital is put down.

In my specific situation, the original developer is no longer in the area, and with no HOA or planning and zoning…..what if anything could be enforced against my plans for short term rental?

Or is it because its more for agents/lenders than investors/developers? 

It took a little while to get them to trust me, but we've developed great relationships over time.