If you leave any small detail up to them, they'll put light switches in the middle of rooms, medicine cabinets not centered, doors opening the wrong way,,,, they are all about the easiest, not what's right.  

The construction costs of the building would likely be paid off in 4-5 years.I believe our lower property taxes possibly give us a competitive advantage redeveloping ourselves versus selling to an outside developer.Here's my question/idea.To keep the land portion of our property taxes at the artificially low rates could we retain ownership of our respective parcels while forming a separate LLC or partnership that would construct and own the building? 

Just playing devils advocate to those who say the market is artificially stimulated and many real estate buyers are foreign investors and hedge funds looking for yield.

Historic properties sometimes have tax benefits (tax credits, artificially low property tax rates, etc.).

My goal with real estate is not to quit my job (I love my career in medicine and plan on sticking with it), but rather to supplement my income.

This is the only method that will determine the true cash flow from a investment separate from any artificial cash flow purchased with your own money.

record low cap rates, are one symptom of the last 10 years of artificially low interest rates. 

All of these products have their own proprietary algorithms (including Artificial Intelligence and Machine Learning) to come up with an expected ADR or Occupancy rate (and many other valuable data points) so there is real data analytics going on with these products. 

It's also possible the foreclosures won't ramp up to previous levels keeping supply artificially low.

Equity produces artificially high cash flow numbers that must be at least partially deducted.