If they don't approve the project, all the time and money spent chasing it yields no return.3) Market Risk: The market can change during the entitlement process, which can also work in your favor like it did for many Developers in 2021.That's why knowing your municipality, understanding their processes, and making wise decisions in selecting which projects to pursue are crucial.Success in development requires choosing the right projects that 1) meet your criteria and 2) have a promising path to approval.The good thing is that this risk is compensated by having a higher return.

My wife and I are new investors with identified deal flow, a selected strategy, and have done a ton of research.

Toilet seat in same spot. 

This is Spot on, It was actually Kavi that I was referring to.

I’m starting to dabble in real estate investing and a local agent told me this is a great spot to network and learn.

And some of these left HML in a tight spot borrowers could not access their draw money.. this happened just recently to Fund that Flip.. and their borrowers I know i got a call from one of them that was owed 300k in draws that was not coming.I can understand that rates aren't what they are when you close as when you get quoted, but if you offer a "rate lock" and use that term, you need to stick to it even if you aren't required by law to do so.

It doesn't take long to learn how to spot a good deal.6.

- You can find this out by going to Zillow, selecting your Zip code or Neighborhood, and looking at current rental listings.

. - Definitely not in a spot to have full time people yet and even if I did I would need someone I trusted to manage them which only adds a further cost to things.

As for what you are missing: Case Shiller ranking of top residential buy n hold cities for this century had the top 3 spots all being CA cities.