With more and more inspection regulations each year, material shortages, labor shortages, and the expensive costs of permitting, large renovation projects are taking longer and longer.

Mainly because there is a shortage of LTRs and high demand for them so LTR rent prices have increased dramatically over the last couple years.

If its a great deal, you should have no shortage of people tripping over themselves to give you a much better split than that.  

In Houston, there is no supply shortage for contractors but are they good or bad or really bad?  

I know midland has historically had a shortage of housing due to the oil and suffers from that cyclical economic issue do to oil price fluctuation but I know quite a few investors out there that make the buy and holds work.

There is a housing shortage currently which is driven mainly by the the Cornell grad student enrollment increase. 

@Sean Moen   No shortage of small lots ...

The great thing about this market is that there is no shortage of tenants.Obviously the numbers must work..

There is a huge shortage of quality low income housing in JAX.  

Now in the case of California, there is a true land shortage in the "habitable" areas, so land value will already run a bit high.