The longer a development play goes in an investment cycle the longer risk can increase in many cases unless project started on upward cycle so when project comes online for lease up market is mid to up cycle and gets full before the downturn.There are all kinds of LP investments.As example:1.

Most don't have power.I have a lot of LTRs that where miraculously untouched except for minor stuff.Our Lake House never lost power.

This market cycle we now entered is one I call "Feeling The Pain".

RUBs are not based on consumption, therefor tenants/residents lack positive reinforcement (lower overall rental expense) to conserve water or even report a cycling toilet. 

Normally, it's a counterproductive move with such short cycle.

Touché Don Touché....Detroit is a great example of holding too long, and the boom-bust cycle. 

It's a proven cycle: make money, invest wisely, minimize taxes, and repeat.

I'm particularly passionate about real estate investing in flips and long-term rentals.Outside of real estate, I enjoy running, cycling, and playing with my dog. 

It may be challenging right now, but the cycle is shifting4.

I would just be cautious about taking on such a high cost basis this late in the cycle because when we see the next buyer’s market it will probably cut into your equity.