It seems you're doing quite well with what you've developed over the years. 

Build to rent development is a great strategy.

.✅ Looking at property management options—self-management can save costs but requires effort.4.

Self storage which is our Longterm cash flow.  

Quote from @Shaun Ortiz: One thing that keeps coming up is how some investors start with BRRRR but eventually shift to other asset classes—self-storage, mobile home parks, even commercial spaces.

I have been President in a 30 lot self-managed HOA and it isn't that difficult if everyone works together. 

Hello everyone,I’m currently in the planning phase for a development project just outside of Santa Fe, NM.

We have a large piece of land undr contract that we'd like to develop for IOS.

@Jay HinrichsI currently develop in NC.

Using 50% rule (expenses excluding P&i is 50% of rent) here are the numbers;1800 (rent) - $900 (expenses) - 1468 (heloc) = negative $568/monthAt your rent point with that size unit, your expenses will ve less than depicted by the 50% rule, so let’s use a likely more accurate 40%1800 - 720 (expenses) - 1468 = negative $388/monthNow let’s imagine you self manage and you time is not worth anything (I strongly recommend believing your time is worth less or worth less than a quality PM would charge) with 8% further reduction so expenses are down to 32%1800 - 576 (expenses) - 1468 = negative $244/month.