The developer in this case added value and didn't just hope for natural appreciation.

I was wondering if it was possible to become a successful real estate developer in smaller markets like mine and the surrounding areas versus being in a major metropolitan city.

Newly educated , currently learnin from mentors and self development.

This will identify who you may need to add to your team in order to succeed.Speaking of team; look for REI meetups in your area and network.

Hello @Tiffany Milan keep searching the forums you'll find someone who can assist, in the meantime try to attend as many of the BP webinars and read as many books as you can, to develop a firm knowledge base.

However, the builder developers are incentivizing new units rentals with things like free first months rent, etc.

If you look at the recent historical trends it's not hard to identify which markets are 'growth' and which are 'cash flow' type markets, and there are some that show characteristics of both. 

Also, obtaining a more attractive debt to income ratio is something that I've also identified as a potential hurdle I will need to overcome in my early years, but it does not seem to be an impossible task. 

Hopefully he has also seen you deliver at work, and your willingness to roll up your sleeves and take on a task, without hesitation.many potential investors show up at meetups but fail to follow through or even have a plan.I'd suggest you take this further by developing a business plan and goal setting. 

yes I think so (unless you have construction experience yourself).. would focus on renovations, cosmetics first.. then go into development.