I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh 

Build to rent development is a great strategy.

I think you have many great opportunities in that part of NY but I would say develop some metrics and measure markets according to your metrics. 

In addition to real estate, I’m passionate about entrepreneurship and business development.

That being said, I've been moving into development.

I’m excited about the possibilities and am eager to continue growing and developing more homes in Massachusetts.

But house hacking, short/long term rentals, new build/ mixed use developments and  live in flips all have my attention right now. 

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

We all don't care how much Apple profits on our iPhone... what really matters is the product or value we get or in this terms the ROI on our principal.The fees can be broken down in the three main fees (so you might have to combine some of the above fees under one of the categories below):Acquisition fee (paid % of the asset price) - normally 1-3%Asset management (paid % of the income the asset produces) - normally 1-3%Distribution or exit fee (paid % of the sold asset price) - normally 1-3%Development fees (this is present in development deals) - exampleNOTE: Just because these fees are high or the split structure has too much going to the GP does not disqualify it.

I'm a Managing Partner at a company that facilitates Full-scale flipping, lending, development, and portfolio acquisition.