Quote from @Andy Tack: Hi Lance, we are developing a project that is partially in a flood zone also.

Bonus 4: develop a list of questions you want to get answers to before you do any opportunity.

The ideal property would meet the above criteria, AND would have a large yard, or ideally, a detached garage that was a suitable candidate for an ADU construction project (CO now allows ADU construction on most properties), and/or a primary structure that had lots of value-add potential. 

That’s less about the numbers and more about developing a niche and understanding your product.

(Ideally I'd like to hold the homes a long as possible)Would love some feedback from the BP community

The developers pushing agents to sell one of their townhouses as a STR really inflated the asset cost cause they were pricing it on a revenue structure, not asset.

Some of the most expensive and difficult properties in the country (and world) to develop were vaporized into potentially un-developable lots.

OK being a life long CA and selling and developing land here for 50 years..

I own 40 properties, have a family full of developers/attorneys aka all things annoying, and I am a former senior wealth manager. 

Plus macroeconomics here in Columbus is booming right now because of developments from Intel, Meta, Amazon, Honda, and lots of major companies building out here.