My piece of advice would be to research emerging neighborhoods and focus on areas with strong job growth and infrastructure development. 

First hand it's doable but you need to develop a trustworthy team. 

So, they can markup what they paid out and keep the difference.Most PMC industry software has these two options built in.So, it's just a matter of understanding how your PMC is marking up maintenance and not expecting it to be for free.Regarding the specific charges you mentioned - there has to be some level of trust with your PMC. 

For the community development dept, you'll need proper plans (architect), site survey, permits, etc. when you're ready. 

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

Property management fees and software subscriptions are deductible, and depreciation reduces taxable rental income.This post does not create a CPA-Client relationship.

Lived in Columbus for 13 years, 600+ transactions, development experience, new builds, 40+ rehabs, DM me if you want to know about the market. 8+ years on the forums advertising and building relationships with investors in almost every state.

I'd work on a strategy that returns my capital guaranteed. build to rent direct with ground up developer does this.

Quote from @Andy Tack: Hi Lance, we are developing a project that is partially in a flood zone also.

Right now, I am an aspiring real estate agent specializing in investment properties while also in the process of developing an app!