@Andrea Lucarelli - We are converting our planned airbnb into a mid-term rental here in Chicago because it got denied by the city because supposedly its in a "planned development area". 

Thats a lot of work that a company would have to do and they would want their money back on the development costs.

Plus, you get huge appreciation here based on how many companies are moving and developing here! 

I do expect greater development of condos and townhomes and higher density single family communities. - Acreage will continue to be a very hot commodity.

I personally like to buy in towns/neighborhoods in which no new builds are possible within 10 miles because all the land is developed.

There is so much growth here - population growth, job growth, and companies moving and developing here.

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.

Developing? 

I ran your numbers through my own development proforma analyzer and it looks really good as a DSCR loan. 

Of course, this is all done before we spend money on inspections, etc.It's all about the relationship you develop with the team on the ground.