I'm not personally invested in the market myself but the conversation about this area is progressively increasing and increasing so I would expect to see some saturation here. 

Typically, a developer needs to do the early stage work and run numbers based on preliminary data to figure out two things: The 1st is define what the Planned Project is all about (Highest & Best Use, Density, Finish Levels, Cost, Income, Expenses, Capital Stack (Debt & Equity), Partnership Structure with an Investor, Holding Period and so on.The 2nd is for the Developer to figure out the deal structure with the Landowner; If a purchase, settling on a fair due diligence period that will allow the developer to close at the time the Project is “shovel ready”, the milestones associated with the permitting process and the earnest money released to the Seller as the deal progresses.

Discuss this plan with your mortgage broker/lender to obtain their evaluation on the associated risk.

So he wasn't at the house and there was no sign of any progress since last week.

@Patrick Thomas Dickinson The stress test is simply running my same evaluation numbers using 10% less in rents (reduce assumed market rent by 10%).

Surround yourself with experienced people who will help you evaluate a deal:  real estate broker, property manager, real estate agent, lawyer, CPA, insurance broker, finance adviser and a steady diet of improving books.

I think you can evaluate other growing markets apart from the Austin and Tampas of the world.

Open question to the wholesalers out there and people who work with wholesalers. If the deals wholesalers find are good, what's stopping them from doing the deals themselves? Is it safe to assume that wholesalers only...

Best of luck and keep us updated on your progress!

@Samuel Nuckles welcome to BPLearn how to evaluate dealslearn your marketlearn the basics of financing ie. the different types of loans.