The long and short of it is that the trust would sell the props and reinvest into other income producing assets, and you could draw income from the trust during your life, and then whatever remains when you pass would go to your chosen charity (or educational institution, they reeeeealllly push this on their wealthy alums, but I like the idea of funding a worthy charity, personally).

You should be deducting that off the top of your rent before any other deductions to come up with what the "property" is actually producing.

An extra $10 per applicant would produce an additional $3,690 income but I don't bother with it.

Louis is in fact succeeding in attracting tech companies as seen by Microsoft's new regional office in the Cortex innovation district and Pfizer's new $200M headquarters in Chesterfield.

Selling the land and going immediately into an income producing something at 8% will yield you over $700K in cash during the same 36 months you're waiting for the development to complete. 

IM looking for agents to source and asses deals as well as general contractors and/or subs who can produce quality work in a reasonable amount of time and a decent price.

This would leave me roughly $220k that I would take and purchase income producing real estate outright (there would be no loan or mortgage on these properties).

A lot of people use a 1% or 2% rule of thumb, meaning the rent income should equal 1 - 2% of the purchase price. 1% would be $2,700 a month income and you're projecting closer to .7% which is not a good deal.You could also evaluate the property using the 50% rule and see that it's not producing enough income for you.

And I mentioned (and others) the same rules could produce unintended consequences--the exact opposite effect.

Most investors know this and immediately distrust the sponsor upon hearing a forecast like that unless your client can produce a track record of having delivered a similar return on previous deals that have gone full-cycle.