Well worth it and the best strategy to start in my opinion. 

Given the location and how the town has been developing it seems like a good investment opportunity for rentals.

There's also huge development projects, many spearheaded by Dan Gilbert's Bedrock investment company. 

.- Current owners purchased many lots and they haven't developed them.

I’m interested in purchasing an investment property with equity I’ve developed in my current home, however I’m concerned that if I have an issue renting out the new home it can blow up in my face.

@Chris Morris have ALWAYS seen bad "deals" from rookie wholesalers that really don't understand what they are doing to provide value to the industry.It's getting worse because the real estate market has recovered from the 2010 Crash, yet many are still using tactics & methods developed during this time.Everyone in the industry needs to go back and look at what was being done BEFORE 2010 and start using those methods, updating them with current technology.

If it were me, I would reach out to other franchisees in your area (perhaps your Development Agent might have some insight...see...I know the Subway lingo and I've done Subways in my banking days).

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 

I think investors see it the same way and invest that way too leading to bumps in prices if they start to see a trend.   

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