July 2022 we sold our largest and best self storage development.  

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

Title is not yet in our name so when our balloon is due the bank will treat it as a purchase and they won’t treat it as a refi.

That seems extreme to me, but even if is only 10% of that, that's more than our States entire population, the implications are supermassive. 

A great REALTOR will help you gather rental history and the cost to own and show you good sites for pulling rental projections, but you will need to do your own calculations.Everyone's mileage varies.

This strategic flip leveraged our market expertise and efficient deal structuring to achieve a quick and profitable transaction.

We’re debating whether we should sell our rental property to pay off all our debts.

Is there any good resource with links to the relevant sites in particular states/counties?

If we were not able to raise the price of our homes by 20% or more we would had to stop.. my LORI plan started at 600k sold two of them and made our normal 100k net.. last loris I sold 36 months later went for 850 to 900k and we made right at 250k NET on those ones.. so it was very specific to plans that CASH buying empty nesters wanted ..

Seems like a big risk given our experience.