I am unclear if “plans” mean site and project design or a business proposal.As you can see from Snap Shot 4 above, if the numbers in play are anywhere near market reality, a total Phase I build-out with a cost of ~$60M will require $16.5M of equity.

PMs are for when you're seasoned  and in the preservation phase or out of area investing or if you always plan just to have a job and up to a handful of rentals to subsidize retirement. 

If you’re still in the inspection phase I’d recommend getting an estimate before you’re locked in with your deposit if you still can.

Although the bank in FLA is not small regional its GA based regional .Other wise for some of my spec loans I did in Charleston when I was at my credit limit with the local bank I used Lima one for over flow.  18 unit might be bigger than they will do.Can you develop it in phases so your not having to go out on the limb and borrow a big chunk at once ?? 

I'm still on my 3rd month in this education phase and I've learned a lot!

The project has already started and all phases should be done in 3-4 years.

It sounds counterintuitive, but if you spread your net and search criteria into multiple markets, I promise as a newer investor you'll be stuck in the analysis paralysis phase. 

You will most likely incur exploratory costs (money at risk).Maybe get control of the parcel(s) that unlocks it after searching for easements on them and finding none.If you find an easement then Bingo your unlocked.Control might be available via options.Pay attention to this upfront>>>Big parcel like this on the water my first thought in the states would be Phase I enviro. 

We are in Washington state and currently looking for land to start our next phase.

Its not a bad side hustle (im a firefighter) but im getting frustraited I cann’t seem to break through to the next phase or level I guess.I know some of the things holding me back is me and also not having a second crew of guys so 2 houses can be going at once.