Said that our property rebuild costs exceeded their maximum. 

Jaime The cost approach (land value + depreciated cost of improvements) is typically the least reliable indicator of value.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Repeat and trust the compound effect.

I understand it is inherently riskier to develop raw land, but I learned that the reward is significantly lower lot cost and higher margins. 

I would do a HELOC, because if you don't want to take the money out you don't have to pay the interest, on a home equity Loan, the full amount is going to be advanced when the loan funds, and you will pay finance charges on the whole amount.We do investment loans on new construction, Typically we can do 60% of the land costs, and up to 100% of the vertical construction, not to exceed 85% of the Costs.Thanks,Dustin

In high cost areas, it may be virtually impossible to cashflow/hit the 1% rule today.

Leasing a Maytag laundry center from Wash.com would cost me $100/mo, but reviewers say they can take weeks to come out for repairs.A local place called Mission Laundry Equipment can lease me a Speed Queen laundry center for $110/mo, or sell it to me for $4,299 (actually $5,450 with all taxes and fees for delivery, installation, and setting up the credit card system).

So while some rules only affect potential residents, they can have the effect that investors in land like us will have trouble finding buyers. 

Saw a $40k price cut and made offer next day for full asking price and asked for $10k towards closing costs.