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

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.  

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. 

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

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 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!

Comprehensive CoverageBasic Coverage: Covers specific risks like fire, theft, and certain weather damage.

If you are worried about being sued, there is an argument for opting to just get umbrella insurance.For your specific situation you could consider speaking with a RE attorney or there are services that can help you set all of this up.

What draws you to multi-family specifically?

All these providers balance speed with compliance, so it’s worth consulting with them to compare timelines, costs, and support for your specific needs.