I'd really vet the developer, their past projects, talk to prior partners (GP & LP) to see how prior development deals worked out and how the communication was, etc.

My first self-developed software gave me efficiency.  

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.

I manage quite a few properties in those markets.

Experienced developers, could you tell me how the process/financing works?

They should also have proposed or preliminary site plans approved for the remainder of the development.

He took the new development appreciation approach.  

Hello everyone!  I’m excited to get started on my real estate journey. I’ve done a couple of fix and flips but I’m looking to build a rental portfolio. I’m looking in the DFW market initially and I’m definitely open t...

You develop relationships with a handle of people that are creating notes and you help them recapitalize, it is like a conveyor belt of deals coming to you.  

Keep in mind I dont do rental properties we do land projects new builds and capital partner with other developers who need capital..