But, that is not always the right answer and you should speak with someone familiar with your personal situation to get advice specific to you.

I recommend as a first step in your education in this new type of investing - join a Community that is specific to syndication investors.  

Now if you want to buy and live there forever or you want a specific location or lifestyle or the amenities, might be something to consider, but not for investment....they're for living.Your best option right now depending on your income, is probably to buy at least 4bed house or 5 bedroom if you can make it work financially and rent bedrooms. 

Specifically, I’m interested in understanding the costs, potential returns, risks, and strategies involved in transforming raw land into a residential neighborhood.  

You’re thought process is good, BUT, if your market timing is incorrect, or the specific property you purchase lacks tenant demand, you can get stuck with an “alligator” for a long time.  

It’s crucial to stay disciplined here, as overspending on land can limit the funds available for construction and other expenses.Development Scale: I’d recommend avoiding developments in the range of 4-50 units unless you have a very specific reason.

I am also looking to invest in a property in Texas, specifically San Antonio. 

Make sure you know your exact insurance costs with a specific STR policy that has general liability as well.

Based on personal experience, I would add assuring the lender is specifically authorized to perform an on-sight property inspection, at the lender's discretion / convenience. 

I have a senior living project with entitled land ready for development, and I’m exploring options to attract investors who would see the value in this growing sector.If anyone has experience or can recommend a specific approach or network in our area that would be worth exploring, I’d appreciate the insights!