The new design takes the home from a 3 bed, 2 bath to a 4 bed, 3 bath, 2,400 sq ft rambler on a large lot in highly desired area.

His 40-plus years in real estate speaks for itself, and his unquestionable devotion to providing his expertise, advice, and thoughts here on BP have earned him a level of respect on this site that you apparently are unaware of.He will not condemn anyone simply based off a black and white forum.  

Phase I of the development was in the more desirable city + Zip. 

Earning potential and cash flow seems like it would be easier to obtain if the numbers are right.

If you want to work with multiple agents, those agents know there's a very low chance of ever earning a dime, so they won't waste their time.Agents do much more than find property.

That is why I have always advised investors to be sure that their reasons for looking out of state match their needs and ultimate desire as an investor.  

Owner occ developments there is no value associated to the income approach so these props generally speaking will appreciate a lot more as the neighborhoods are much more desirable. builders the last thing they want to do is sell to investors if they are creating owner occupied communities.. rentals degrade the neighborhood and they will be sabotaging their own values to allow a bunch of investors to buy and rent out in their communities.So when you buy new builds keep in mind if its a build to rent community they will NOT appreciate like owner occupied neighborhoods.. might be best to find something already 3 to 5 years old where the stigma of renters dies down.. that would be best to protect your investment.

Lo and behold, many of said states will require the foreign entity to disclose owners/members and such, negating your desire for secrecy. 

Moreover, he, like the Reg D multifamily promoters, lie about what they owe, lie about what the earn and lie about what they own.

Can you invest that money that would be used to pay it off in places that earn more than 7%?