We've got strong job growth (tech, healthcare, education), stable population growth, strong rental demand, and plenty of value-add opportunities in multifamily.

I can also see the ends of the Commuter Rail lines being good too...like Haverhill for instance  The Salem/Beverly area is great and pretty pro-development/housing from what I'm hearing.

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.

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

Real estate wealth is built through long term price appreciation, property becomes (usually) more valuable over time, especially if purchased in areas that have either gone through development or redevelopment.  

Assuming you want to aim for syndication, you sort of need to learn how to develop a pro forma that ties the return to an IRR/XIRR. 

It's in a newly developing area with houses being built and other lots selling nearby.

I see google maps and bing maps both do not show any development in this area yet in satellite view.  

I developed friendships and met a lot of great people at Rod's event and value his input and what he's doing for MFH community. 

You’ve developed a moderately fast wealth accumulation strategy that’s relatively low risk, enabling you to ride out down cycles, negative cash flows, unexpected necessary expenditures, etc.