Hopefully it'll be lower, but that where's my urban developers in a few other markets are seeing their numbers come in.

Also, keeping an eye on zoning changes or upcoming developments can help you get ahead of the curve.Would love to hear more about your experiences too—what areas are you currently focusing on?

I'm also in FL and am a RE investor (STR/MTR/LTR), developer, and just love RE and the freedom it brings.

Much like by the end of this decade, I will take those same steps to become even less involved with work and have more times with my kids who will be really developing and that will be my focus.The difference once I made money, and was able to make it make money for me I de-risked by eliminating leverage.

Getting Fair deals on labor and repairs comes from developing win/win relationships with contractors.

They are developing along the river so a lot of upside here (look up hazelwood green).

Plan is to develop and sell the homes.

As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants. 

It explains the team that you should develop to have a strong foundation under you while investing remotely.https://www.biggerpockets.com/blog/core-four-real-estate-team

Where I differ with most of the posters on this thread is that I feel solutions can be developed to address the problems and something similar to what the OP suggests would be viable.