I would suggest you do a bit of additional homework prior to taking on New Development projects.

I add additional profit for the estimated time and difficulty of the project.

The projected rental income would be $6000/monthly, projected cash flow is ~$1000/month, and CapRate at 7.2%.

I'm really interested in looking at a project like that myself.Matthew, Trevor, Kundan - Thanks for the warm welcome! 

Thanks, the catch is I did most of the work myself, subbed out a few projects like full bathroom re-do :/It was a huge learning experience, but now I feel more confident in both understanding the scope of various projects, and working with contractors for the future.

Our projected long-term growth is strong and more people are moving here every day, but houses are still relatively affordable when compared to the coasts, or even Denver.

I was wondering if anyone who has done this can tell me if after comparing price per sqft of the building aspect of the project only (cost of land, environmental remediation, and demo excluded) they have found modulars to be a more cost effective way to go rather than stick built.

I'll post updates about this project periodically and hope that writing my experience helps BPers understand what NetWorth offers.

I would be interested to know if there are any local investors taking on these types of projects?

He had the best local rates and was willing to lend depending on the project.