I'd really vet the developer, their past projects, talk to prior partners (GP & LP) to see how prior development deals worked out and how the communication was, etc.

Mozeo is a fairly user-friendly software, and very affordable.

Adding a single small unit is very expensive development.  

Experienced developers, could you tell me how the process/financing works?

They should also have proposed or preliminary site plans approved for the remainder of the development.

With all the new development around the stadiums, it can be very lucrative and presents room for growth as the area continues to develop.

Purchase price: $75,000 Cash invested: $600,000 Sale price: $269,000This is my largest new build development to date.

(Land and construction cost, expected sale price, etc.)My last development in Chicago looked like this:Land = $300kConstruction Cost $650kHolding Cost/Closing Cost/etc. $50kProfit roughly $100kThat project was in Bucktown on the nw side of Chicago.

Not to mention the economic development steps the town is taking in ensuring the growth of town (roads, schools, zoning) stays on par with the future expected population growth and new jobs that are going to be a result of the new factories opening.  

Since you are living in the property, you probably have developed relationships with an electrician, a plumber, and a general handyman, if you haven't reach out and meet a few now, while you are in the home, so that you can easily make a call or two when it will be necessary.