As someone else had mentioned, the prospect for appreciation should be a strong consideration. 

Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.  

Oh also number one skill to develop regardless of the route you take is being able to identify and get in contact with motivated sellers.

This is literally the biggest obstacle for any data center development today.

Network with local investors, undertake extensive due diligence, and develop a clear exit strategy.

Hi All, my names Josh, I'm a kiwi living in the UK building the portfolio with a unique business model which brings into other investors into a compoinding model with both Capital and perpetual returns.i have a well developed process and network here in the UK and New Zealand, wanting to explore the US market.

You have relationship infrastructure and knowledge that took a very long time to develop.  

Hi @Mark Hafner, we are active in the Spanish real estate market and have been developing several real estate projects in the last few years in the Valencia area (Valencia city and the Costa Blanca).

People like myself who respect and follow the rules consistently lose prospects to our less ethical peers who initiate contact with investors, with impunity.

The deal fell through because I couldn't line up the financing during COVID......God/Universe has a way of looking out for us...As investors, a crucial skill we develop is to take our emotions out of the situation/deal, but that is hard when we have invested a lot of time and money into a deal.