Edward, thanks for the reply.

Before everyone comments there is more to underwriting than projecting exit cap rate and it varies by market, know that I already know that, and this post is regarding a general concept and a question posed get your thoughts. 2.

On top of that the tall ceiling height on the 1st floor presented a great open floor plan concept.

yes, that contradicts the concept of "free".

Consider the time, effort, and expense to develop a concept plan to include site drawings, home types, homes per acre, site storm water retention plan, tree save areas, conservation areas, wetland setbacks, time considerations for meetings with county land use planners, negotiating easements for utilities, rezoning meetings with county council, revisions to your plans to meet demands of neighbors, planners and/or county council, and hopefully getting a final approval for your project.

It’s a fairly knew concept to the irs and they all don’t know everything about it, and sometimes a good CPA doesn’t either.We got called out on it but I armed myself with tax code law and cited them in my rebuttal.

How many brand-new KIAs can our tenant go through while we go on with our old Toyota before we realize the tenant has no concept of what to do with more money other than going into more personal debt with it?

I have heard of this concept but not familiar enough to move forward.

This is an interesting concept.

Totally agree with @Paul Moore and I think Self Storage and Mobile Homes don't get the same attention as Apartments because people, in general, don't really understand the asset classes, unlike apartments everyone gets the concept rather quickly.