Project CloseoutI'd suggest using AI Gemini or ChatGPT to get you a starting point....then get feedback & and revise if needed. 

I would ask how many projects they have going currently and how they manage their schedule.  

On the bright side, a lower LTV will decrease the risk of the project for you so it's a good buffer to have on your first deal

If you're new to new build construction (or construction in general), I would get a local Architect onboard to be your eyes and ears in taking on the project and helping to assemble your team.

We ended up just doing a shiplap ceiling to eliminate having to drywall and filled the cavity between the two ceiling with rockwool and it has made a pretty substantial difference that wasn't crazy expensive and was a two day project due to eliminating the need to finish drywall.  

The way you become a developer is to find a project and make it happen.  

I know I want to start small/slow with one project (either a rehab/flip or a buy/hold long-term rental) and invest only in areas that I know or live (Los Angeles, Orange County, CA) at least in the beginning.

East Point has affordable prices, Decatur has charming homes, College Park has redevelopment projects, Lithonia / Stonecrest has affordable homes, Mableton has a quiet suburban vibe.Good luck!

Development probably isn't going down much, so you'd have to run an analysis on the potential yield of the project and what the risks are.

The percentage of the projected AirDNA revenue will depend on your experience and credit score.