You have many options.I have done the development side before and unless you are experienced, be careful.   

While it is possible to convert an investment property acquired through a 1031 exchange into a primary residence, this requires careful planning.

The city’s diverse economy, which spans transportation, healthcare, and education, provides a solid foundation for long-term growth.

The other tip I would say is really get a good relationship going with a realtor in the area if you do not have one to give you the exact data you are looking for to be successful.

I think if the end result is affordable housing people need to be invested in their own housing otherwise a good percentage of the beneficiaries of your program won't care.  

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

I went with Cornerstone Davis Kangas took care of the 1031 exchange.

By staying informed and adaptable, investors can find opportunities in both booming and challenging markets.Overall, with careful planning, thorough research, and a strategic mindset, real estate investing can be a fulfilling journey towards financial success and stability.

Cost of doing business and making a mistake...learning experience.Be careful with what you consider "market rate"....

You have to be very careful in who you listen to.