I wanted to share my situation and get some advice.I currently own an apartment in a highly developing area in Guaynabo, PR.

Most properties I’m looking at are for infill development when working remote. 

I grew up in the real estate industry watching my father raise money with a PPM for large multifamily value add projects and a developments.

We've been continuously improving it, but it has been working exceptionally well for us since we hired a developer for the complete build-out a year ago.

Regarding the HOA and CC&R's, the builder can make changes to the CC&R's pretty easily while the development is under Declarant Control.

Buying turnkey rentals, you are generally paying more and allowing the provider to capture the profit from developing the property.

The description states the property is "ready for rehab and development".

The consistent population and job growth are driving real estate values along with many companies choosing to move and develop here like Intel, Amazon, Google, Meta, etc.

For example, here in Columbus Ohio, you have amazing macros (population growth, job growth, and companies moving and developing here like Intel headquarters, Amazon, FB, Google, Nationwide, and recently Anduril AND you can still find positive cash flow and the 1% rule here PLUS there's AMAZING appreciation potential.2.

Hopefully it'll be lower, but that where's my urban developers in a few other markets are seeing their numbers come in.