One hot topic to consider is getting involved in Qualified Opportunity Zones (QOZs).

Additionally, investing in opportunity zones, often found in these areas, offers great tax benefits.

Perhaps this is an extreme case to use as an example but I am using this to illustrate a point which is this neighborhood like many others in the country would be well served by finding the correct balance between zoning laws and ease of doing business.

Some markets may not cash flow that well and I get that but to say that it's okay to be in the red for multiple years because you have underwritten the market and know values will go up sounds crazy to me.I have only done a few deals to this point so maybe I am missing something but I would love to hear your thoughts on heavily weighing appreciation as the decision to move forward with a deal even when negative cash flows are the most likely short-term situation. 

And for a seasoned developer to insist on cutting out the GC would be a red flag. 

NonQM loans aren't as regimented as conventional/govt, but the investors are much less likely to budge when there are red flags, such as a significant difference between two appraisals.

The value of 3 acres zoned multifamily vs 3 acres that has full entitlements (meaning you just go to the city to pay permits and start building) is significant.  

I’m sure I will have to check zoning but figured I would see what ideas people had first?

YOU NEED TO LOOK INTO YOUR TOWN'S ZONING BYLAWS....and you should talk to the building inspector before you get too far into things.

It has to be in what's known as the short term rental zone.