I ran your numbers through my own development proforma analyzer and it looks really good as a DSCR loan. 

I recently bought a commercial condo (retail) and have been going through hoops with the seller (developer) to make changes to make the space ADA compliant. 

Quote from @Andy Tack: Hi Josh, we are developing 767 acres in Tennessee as Glamping STR properties.

Thats a lot of work that a company would have to do and they would want their money back on the development costs.

Developers will not be able to get these bonus building permits without providing such TDR credits.  

Other than new construction development same here we have no senior debt its all cash.. of course unlevered returns are are a little less but man is it so much easier to manage and not worry about paying the senior debt all the reporting One has to do etc etc.. having been through a terrible down cycle with syndication decades past and watching what the guys I worked for went through and lost I just decided if we cant pay cash I am not going to do it. 

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.

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.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

Sales is a time-intensive venture, and it takes years to develop a pipeline of clients.