But I'm sure the developer made $1m.

If it is covered it's usually if caused by a covered loss meaning mold develops due to some other covered peril. 

I am not interested in this space as a "get rich quick" solution but more so about developing and growing assets over time and eventually trading up into better assets that can provide the cash flow I need to accomplish my goals.

Is anyone else developing in this space?

Oh also number one skill to develop regardless of the route you take is being able to identify and get in contact with motivated sellers.

MF with many garages to convert to ADUs, parcel splits, full on development, coop/tic with the resources to handle financing challenges, etc.To raise money in this market as a newby will also be challenging unless you can get it from friends and family.

@Peter FirehockI live in the area inside the beltway and developed Oronoco and worked on Robinson Terminal South.

Someone told me there're some new build deals there but the area seems not well-developed and will need some time to get its value increased. 

I have a subdivision in Maryland that I’ve been developing for the past year.

I would like investment advice on how to help a person, grow and develop her vision of redeveloping old structures in the Milwaukee Metro Area.