But if you want to keep things simple and lower risk, self-funding could be a solid option.

When developing, I'd first talk with the city building/zoning about what they want to see more of and where, and try a simple project that should be smooth sailing on plan approvals, saving you time and money. 

The rest of the day will be seen as Benchmarking exercises: beaches and good food!

You can usually find some events by doing a simple google search.

Hope this exercise illustrates the fact the BRRRR and cash flow are not always indicators of success and far less time could have been invested to achieve a more favorable result by purchasing in Market A at the start.

I was shocked as I thought it would be very simple (which it is), but some syndicators will use funny math such as not counting fees, placing expenses on a quarterly or yearly basis when using IRR (backloading to end of year). 

With loan extension you might have to come up with extra payment to get DSCR in range lender will approve.That is why to go through this exercise NOW and if you know tenant wants 300k TI to extend and bank wants 300k to pay down estimated balance when new loan placed you need 600k to come up with.

The capital invested in this project is not as simple as the template BP gave me so I'll explain a little bit more here:This is a 1031 exchange build to suit.

Although instead of knowing about roofs and rehab.. land folks need to know about:Zoningwhere is the power  is there internethow deep are the wells or is its an area that water is super toughDoes it perc. and or how expensive are septic systems.Wetlands Etc.Now if you target land with all city services then its just dead simple.. figure out the retail value and buy below it and do your flip..

Do your due diligence upfront on the person (simple google search with their name and lawsuit or scam can weed out many - as well as a search on BP)2.