Or, have they adjusted their project to accommodate a higher interest rate environment? 

You need to do a cost-benefit analysis to determine if it's worth it.  

I was thinking this might work on my property in Redding and can be adapted to a shared housing project for seniors (though I'd want rooms large enough for bed, bath and seating area)  It's my understanding that it is considered a SFR with seperated bedrooms as far as planning.

You get to deduct $5,000 immediately to oversee the project. 

Estimates and projections are great, but experience gives you the real numbers!

It requires hard work, strategy, and a willingness to take on projects others might overlook.

I can provide support of checking in on contractors, staging rental properties, walk potential leads to give you an idea of the property in person or what the area is like, meeting with agents, and drafting scope of work for projects. 

With the current mortgage rate constraints affecting how many buyers are willing to enter the market we are seeing a lot of borrowers have success with the BRRRR strategy with plans to sell in the next 3-5 years when interest rates go down.Researching potential LTR and STR rental amounts and seeing if holding for a few years is a viable option is a good analysis to do well. 

A development project can have a very nice upside if done right. 

At Rent to Retirement, we’ve been helping investors navigate these decisions for over a decade.If you have questions about market analysis or getting started, feel free to reach out.