In Columbus, you can still find the 1% rule and there's amazing appreciation potential due to how much population growth, job growth, and companies moving/developing there (recently Anduril just announced another 4,000 jobs coming to Columbus Ohio on top of Intel, Google, Amazon, FB, Nationwide, Ohio State University, etc.).

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.

The buyers had invested a lot into the deal (~$100M) and purchasing the property was critical to complete their development.

Experienced developers, could you tell me how the process/financing works?

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

I'd really vet the developer, their past projects, talk to prior partners (GP & LP) to see how prior development deals worked out and how the communication was, etc.

It can be discouraging for newcomers.Solution: Develop resilience and learn to view rejection as part of the process.

You can also find various contracts online, develop your own then have an attorney review it to ensure it has teeth, and is legal in your area.7.

That and there's a strong bias to developing condos over apartments.

CommissionerYou really need to see how this operates in the real world, and with a Tax Court Judge looking at all the facts & circumstances.